PowerGrid gets approval to Procure Six MVA Transformers worth Rs 673 Crore
Power finance’s Kurnool III PS RE Transmission Ltd., a special purpose company under wholly owned subsidiary PFC Consulting Ltd, was transferred to Power Grid Corporation on Thursday.
New Delhi: The Board of Directors of Power Grid Corporation has granted approval to invest Rs 673.1 crore to procure six 397 MVA converter transformers, the company informed through an exchange filing.
Power finance’s Kurnool III PS RE Transmission Ltd., a special purpose company under wholly owned subsidiary PFC Consulting Ltd, was transferred to Power Grid Corporation on Thursday.
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According to the exchange filing made, the 'Board of Directors’ of POWERGRID, in its meeting has considered and approved the “Investment approval for procurement of 06 nos. of 397 MVA Converter Transformer for Talcher-Kolar” HVDC link under Additional Capital Expenditure 2024-29 tariff block at an estimated cost of Rs 673.08 Crore, scheduled to be commissioned by September, 2027.
Shares of Power Grid ended low by 1.73% at Rs 290.40. The stock has fallen over 17% in the past six months and the dividend yield for the recent quarter is at 3.62%.
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