Power Grid Corporation has a Rs 42,000-crore plan for setting up an exclusive countrywide green corridor for renewable energy transmission.
Presenting the company’s Q1 results here on Wednesday, Mr R. N. Nayak, Chairman and Managing Director, said this would be done over a period of five years. The investment was for transmission of 40 GW of renewable energy capacity by 2030.
About Rs 20,000 crore would be for intra-state strengthening and Rs 22,000 crore for inter-state transmission systems for grid integration. This would also include other work such as energy storage, real time monitoring system and setting up of renewable energy management centre.
On renewable energy certificates, he said Power Grid’s subsidiary, Power System Operation Co (POSOCO) was the designated central agency. Cumulatively, RECs worth over Rs 4,000 crore were traded till June 30.
In the current June quarter, the registered capacity went up to 514 MW as against 240 MW. RECs issued were 612,191 as compared to 59,863. RECs traded totaled 113.31 crore (Rs 5.27 crore).
The capex for the 12th plan was Rs 1 lakh crore of which Rs 3000 crore had been spent in the Q1 FY13. Capex for FY13 was Rs 20,000 crore.
PROJECT EXECUTION
On the June quarter performance, Mr Nayak said project execution had picked up considerably. In Q1 FY12, project spends were Rs 1943 crore, while in Q1 FY13 it was up at Rs 3007 crore.
Powergrid had set up a logistics cell to coordinates dispatch and receipt of equipment at site. On grid management, he said in the first quarter POSOCO executed short-term open access transactions involving 16,300 million units. It is now possible to buy and sell power every 15 minutes, he added.
For better utilisation of the right of way, the company was deploying high-temperature conductors and compact, tall towers.
The company is working on 800 kv HVDC (high voltage direct current) and 1200 UHVAC (ultra high voltage alternating current) systems to increase bulk power transmission capacities over long distances. It had recently test charged a 1200 kv line.
On Wednesday, the company scrip closed marginally down at Rs 110.55 on BSE.