The Power Grid Corporation of India Limited (POWERGRID), (NSE: POWERGRID, BSE: 532898) is an Indian state-owned electric utilities company headquartered in Gurugram, India. POWERGRID transmits about 50% of the total power generated in India on its transmission network. Its former subsidiary company, Power System Operation Corporation Limited (POSOCO) handles power management for National Grid and all state transmission utilities. POWERGRID also operates a telecom business under the name POWERTEL. I S Jha, an alumnus of National Institute of Technology, Jamshedpur serves as the Chairman and Managing Director of the company.
Power Grid Corporation of India Limited (POWERGRID) was incorporated on 23 October 1989 under the Companies Act, 1956 with an authorized share capital of Rs. 5,000 Crore (subsequently enhanced to Rs. 10,000 Crore in Financial Year (FY) 2007-08) as a public limited company, wholly owned by the Government of India.
Its original name was the 'National Power Transmission Corporation Limited', and it was charged with planning, executing, owning, operating and maintaining high-voltage transmission systems in the country. On 8 November 1990, the National Power Transmission Corporation received its Certificate for Commencement of Business. Their name was subsequently changed to Power Grid Corporation of India Limited, which took effect on 23 October 1992.
POWERGRID started functioning on management basis with effect from August, 1991 and subsequently it took over transmission assets from NTPC, NHPC, NEEPCO, NLC, NPC, THDC, SJVNL etc. in a phased manner and it commenced commercial operation in 1992-93. In addition to this, it also took over the operation of existing Regional Load Despatch Centers (RLDCs) from Central Electricity Authority (CEA), in a phased manner from 1994 to 1996, which have been upgraded and modernized with State of-the-art Unified Load Despatch and Communication (ULDC) schemes. Consequently, National Load Despatch Centre (NLDC) was established in 2009 for overall coordination at National level.
According to its mandate, the Corporation, apart from providing transmission system for evacuation of central sector power, is also responsible for Establishment and Operation of Regional and National Power Grids to facilitate transfer of power within and across the Regions with Reliability, Security and Economy on sound commercial principles. Based on its performance POWERGRID was recognized as a Mini-ratna category-I Public Sector Undertaking in October 1998 and conferred the status of "Navratna" by the Government of India in May 2008. POWERGRID, as the Central Transmission Utility of the country, is playing a major role in Indian Power Sector and is also providing Open Access on its inter-State transmission system.