New Delhi, August 8, 2012 – The board at Power Grid Corp. of India approved two investment proposals valued at $27.7 million.
This announcement comes after the Northern India blackout that left millions of people without power. Officials have said the outage was triggered when states in the north pulled more power than usual from the grid.
The board has approved of $12.8 million from the total amount. This approval will be for expansion and replacement of the present Supervisory Control and Data Acquisition (SCADA) and energy management systems at load dispatch centers of the northern region. The initiative will be commissioned within 27 months from the date of investment approval.
The board has approved $15 million from the remaining amount for installation of reactors in the western region with its commissioning scheduled at 24 months from the date of investment approval.
The government-owned electric utilities firm headquartered in Gurgaon has plans to inject $3.6 billion towards capital expenditure during the fiscal year 2012-13. It is looking to infuse $18 billion in capital expenditure in the present five-year plan (2012-17) period.