Power Grid sees $25 billion up for grabs on Narendra Modi power plan

Power Grid sees $25 billion up for grabs on Narendra Modi power plan
24/11/2017 , by , in ALLIED

India’s largest transmission utility is shifting its focus to projects within states, where it expects a government plan to provide electricity to all to generate about Rs1.6 trillion ($25 billion) worth of new orders over the next five years.

Power Grid Corp. Of India Ltd. will seek to capture some of the new orders either on its own or through joint ventures, executive director Anil Jain said in an interview 13 November near New Delhi.

“Until now we have taken up all inter-state projects. Now we want to go ahead full steam on intra-state projects,” Jain said.

Provinces are increasing investments in their electricity grids and upgrading old transmission systems as they seek to supply round-the-clock electricity to households and industries as part of Prime Minister Narendra Modi’s plan to supply every household with electricity.

“Many states may not have the funds needed for upgrading their transmission systems and may want to go for a joint venture with Power Grid,” said Rupesh Sankhe, an analyst at Reliance Securities Ltd. in Mumbai

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