Powergrid will issue bonds to raise up to Rs 9 billion
POWER & RENEWABLE ENERGY

Powergrid will issue bonds to raise up to Rs 9 billion

The Power Grid Corporation of India (Powergrid) board has given the go-ahead to raise unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds through a private placement for Rs 9 billion.

Up until the financial year (FY) 2033, the funds will be raised by securitising the cash flows of its special purpose entity, Powergrid Mithilanchal Transmission.

The greenshoe option will cost Rs 6 billion, while the base issue amount of the bonds will be Rs 3 billion. The interest on the bonds will be paid quarterly, and they will be redeemable at par in 40 equal payments.

Around 86% of the nation's inter-regional networks are run by government-owned Powergrid, India's largest electric power transmission company.

With India establishing an ambitious goal of constructing 500 GW of non-fossil fuel capacity by 2030, integrating renewables into the national grid together with conventional sources of energy is a vital component of the country's energy transition agenda.

R K Singh,Union Power Minister, revealed a detailed plan to shut down the 500 GW of planned renewable power capacity by 2030 at a projected cost of Rs 2.44 trillion last December.

Also read:
Ahmedabad leads the way in solar energy use with 34,794 users
2,000 MW renewable energy projects to be developed by Onix Group in UP


The Power Grid Corporation of India (Powergrid) board has given the go-ahead to raise unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds through a private placement for Rs 9 billion. Up until the financial year (FY) 2033, the funds will be raised by securitising the cash flows of its special purpose entity, Powergrid Mithilanchal Transmission. The greenshoe option will cost Rs 6 billion, while the base issue amount of the bonds will be Rs 3 billion. The interest on the bonds will be paid quarterly, and they will be redeemable at par in 40 equal payments. Around 86% of the nation's inter-regional networks are run by government-owned Powergrid, India's largest electric power transmission company. With India establishing an ambitious goal of constructing 500 GW of non-fossil fuel capacity by 2030, integrating renewables into the national grid together with conventional sources of energy is a vital component of the country's energy transition agenda. R K Singh,Union Power Minister, revealed a detailed plan to shut down the 500 GW of planned renewable power capacity by 2030 at a projected cost of Rs 2.44 trillion last December. Also read: Ahmedabad leads the way in solar energy use with 34,794 users 2,000 MW renewable energy projects to be developed by Onix Group in UP

Next Story
Infrastructure Energy

TKIL, KIS Partner to Boost Biogas in Clean Energy Push

In a strategic move to diversify its operations and support India’s clean energy goals, TKIL Industries (formerly thyssenkrupp Industries India) has entered the bio-chemicals sector through a new partnership with KIS Group, a global leader in sustainable biofuel technologies. The collaboration focuses on boosting Compressed Biogas (CBG) production using advanced technology and localized biomass resources. This association marks a significant step for TKIL Industries as it expands into the renewable energy space. By leveraging KIS Group’s expertise and proprietary technologies, the company..

Next Story
Real Estate

Noida & Jewar Set for Sharp Rise in Property Costs

Noida and Jewar may oversee significant price hikes for properties. This is due to a recent proposal from Gautam Buddha Nagar which outlines plans to increase circle rates, the minimum price at which a real estate property can be sold to a buyer as determined by the government, in both cities. This increase in circle rates would lead to an increase in the stamp duties a homebuyer would have to pay. Under the proposal, high-rise apartments in Noida may see a 20 per cent increase, while Greater Noida is set for a 30 per cent hike. The most substantial rise is expected in agricultural land pric..

Next Story
Infrastructure Urban

KPIL Bags Rs 6.21 Bn Orders Across Railways and Infra

Kalpataru Projects International Limited (KPIL) has announced the acquisition of new orders worth approximately Rs 6.21 billion across its Buildings & Factories (B&F) and Railway businesses in India. This development comes as a significant addition to the company's growing list of orders, underlining its strong presence in India’s infrastructure sector. Speaking on the milestone, Manish Mohnot, Managing Director & CEO of KPIL, expressed optimism about the company’s continued momentum. “We are delighted with the order wins in our B&F and Railways business. These wins will help us further..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?