Power Grid Corporation of India (Power Grid) has entered into loan agreement(s) with Asian Development Bank (ADB) on April 05, 2017 for an amount of $225 million (including $50 million as Clean Technology Fund) for part funding of its Transmission projects associated with Solar Power Parks.
The company had recently received an approval for investment proposals worth Rs 429.21 crore for power transmission related projects. The board of directors at its meeting held on March 29, 2017 had approved for the same.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.