State-owned Power Grid Corporation has a capex (capital expenditure) outlook of Rs 2.07 lakh crore by financial year 2032, chairman and managing director Ravindra Kumar Tyagi told mediapersons in a post-earnings event on July 29.
Approximately 91 percent of the projected capital expenditure will be allocated to the transmission business, with the remaining funds reserved for other ventures.
This capex outlay will include investments for inter-state transmission projects, intra-state transmission projects, cross-border business, international operations, smart metering infrastructure and solar power projects.
The company has Rs 1.14 lakh crore of work in hand and it expects to complete projects worth Rs 60,000 crore to Rs 65,000 crore in the next 2.5 years, Tyagi said.
The company announced a capex plan of Rs 18,000 crore for FY 2024-25 and is planning to enhance the annual capex to about Rs 20,000 crores for next two financial years. In the first quarter, the company spent capex of Rs 4,500 crore.
Tyagi said he expects capitalisation of more than Rs 18,000 crore in the second quarter, up from Rs 2,300 crore recorded in the first quarter.
Meanwhile, the power transmission company is also looking to diversify into renewable energy sectors. "We are setting up a solar generation station at Nagda (in Madhya Pradesh), a 85 Mega Watt solar park, "Tyagi said adding that the company is also exploring green hydrogen plant on pilot basis at its Nimrana substation.
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