Mumbai : Central transmission utility, Power Grid Corporation of India (PGCIL), is way ahead of schedule for commissioning of the 765 kV double line Wardha-Hyderabad line. The project which was scheduled for 2018, has been advanced to March 2017, said Power Grid Corp’s director operations, R P Sasmal.
The line was expected to be commissioned in 2018; now the utility expects to advance the commission by 18 months. Telangana and Andhra Pradesh are in “desperate” need for this line to strengthen their connectivity with the national transmission grid. The line will reduce transmission congestion in the region.
Since FY 2014, PGCIL has come a long way in terms of reduction in congestion. Electricity that could not be cleared due to congestion stood at 5.59 billion units (BU) in FY 2014. By FY 2016, the number has more than halved to 2.16 BU. This is expected to fall further, said Sasmal.
For the June quarter, the company has posted a 33 per cent increase in net profit at Rs 1,819 crore against Rs 1,343 crore reported during the corresponding quarter last year. Total income for June quarter rose 31% to Rs 6,259 crore from Rs 4,793 crore in the corresponding year-ago period. Focussing on growth, PGCIL is eyeing surplus cash in next year or two. Sasmal said, “We have good capex and capitalisation. For a while, our focus has been on capitalisation.” He stressed that the company will enter into EPC (Engineering, Procurement, Construction) in the country slowly in phased manner.
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