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Wednesday, Apr 03, 2002

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PowerGrid signs MoU with Centre

Our Bureau

NEW DELHI, April 2

POWER Grid Corporation of India Ltd (PowerGrid), the Central transmission utility, has signed a memorandum of understanding (MoU) with the Union Power Ministry, setting various performance and operational targets for itself for the new fiscal 2002-03.

Among the various operational and financial parameters outlined in the MoU, a new yardstick introduced this year is on the establishment of a national grid. This, according to a PowerGrid press release here, is to reflect the PSU's efforts in establishing a strong and vibrant transmission network in the country.

This apart, three other new parameters included this year are formulation of a strategic plan, benchmarking of standards and private sector participation.

As for the routine yardsticks set each year, while the operational target set for 2002-03 is the availability of PowerGrid's transmission system at 98.25 per cent, the financial targets include a gross margin of Rs 2,090 crore and a 6.30 per cent return on net worth.

Some of the major projects to be executed by PowerGrid during the year are the Talcher-II transmission system, the North-east HVDC (Sasaram) back-to-back link and the Gazuwaka-II transmission system, all of which are based on high voltage direct current (HVDC) technology.

As for the EHV alternate current (AC) systems, the transmission projects included are Kolhapur-Mapusa, Jamshedpur-Rourkela, Raipur- Rourkela, Madurai- Thiruvananthapuram and the Bihar transmission system-strengthening project.

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