Power Grid Corporation has posted a nine per cent rise in the second quarter net profit at Rs 709 crore for the quarter ended September 30, against Rs 651 crore logged in the same period last year.
Total income rose 11 per cent to Rs 2,459 crore (Rs 2,223 crore).
Mr R.N. Nayak, Chairman and Managing Director, said PowerGrid was operating 87,000 circuit km of transmission lines along with 139 substations with transformer capacity of over 96,000 MVA. The average availability of the lines in 2010-11 was 99.80 per cent.
The company has commissioned or commissioning assets worth about Rs 5,100 crore up to October this fiscal. The inter-regional power transmission capacity had been enhanced to 23,800 MW from 22,400 MW in the first half of this year.
Lines to Mundra
The company has in place 770 km of transmission lines for evacuating power from the first ultra mega power project at Mundra, Gujarat. This had been done amid challenging conditions such as passing though tough terrain in creek, besides right of way issues and excessive water logging due to heavy rains.
Transmission corridor
Being the nodal agency for long-term access to private producers, PowerGrid is developing high capacity transmission corridor for evacuating large quantum of power from independent power producers, mainly in Orissa, Jharkhand, Madhya Pradesh, Chhattisgarh, Tamil Nadu and Andhra Pradesh.
Eleven such high capacity corridors have been planned in consultation with the Central Electricity Authority, IPPs and beneficiaries and the Central Electricity Regulatory Authority. CERC had granted approval for nine such corridors, which would be built at a cost Rs 58,000 crore, he said.
Renewable Energy
The CERC has also provided a framework for trading renewable energy certificates (RECs) and the National Load Despatch Centre of Power System Operation Co (POSOCO) had been designated as the central agency for the purpose. NLDC has issued 2.58 lakh RECs till date and about 1.25 lakh have been traded in seven sessions on the power exchanges.
On Monday, the company scrip on BSE was marginally up at Rs 100.65.