PowerGrid enters into JPY 22 bln term loan facility agreement with SMBC, Singapore branch

Thesynergyonline Energy Bureau

The facility has door to door maturity of 12 years


NEW DELHI, DECEMBER 10 : Power Grid Corporation of India (PowerGrid) has entered into a term loan facility agreement for 22 billion Japanese yen (JPY) with Sumitomo Mitsui Banking Corporation, Singapore Branch (SMBC) today, towards part financing of its capital expenditure for its ongoing and new projects and renovation and modernisation of its stations.

The facility has door to door maturity of 12 years and is on floating rate interest basis linked to JPYLIBOR

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"Trust isn't just the greatest currency, it's the only currency. Once trust is gone in any form of currency, the value is gone." ― Richie Norton

The central utility PowerGrid has an ambitious investment plan and has budgeted capital expenditure (CAPEX) including investment in joint venture and subsidiaries of Rs 25000 crore in the financial year 2018-19.

Major transmission lines under execution by PowerGrid are HVDC Bipole link between Western Region and Southern Region (Raigarh-Pugalur 6000MW HVDC System), PowerGrid Southern Interconnector Transmission System, Green energy Corridor ISTS,PowerGrid Medinapur-Jeerat Transmission system and PowerGrid VaranasiTransmission System.

PowerGrid is a "Navaratna" Central Public Sector Enterprise designated as the Central Transmission Utility (CTU) of India. It is India's largest electric power transmission utility and has been consistently rated "Excellent" under Memorandum of Understanding with Ministry of Power since 1993-94.

The investment

"Investing money is the process of committing resources in a strategic way to accomplish a specific objective." ― Alan Gotthardt, The Eternity Portfolio