POWERGRID Board Approves ₹5,000 Crore Fundraising, Subsidiary Divestment, and Uganda Transmission Project

Mumbai, March 9, 2026: POWERGRID Corporation of India Limited, a leading power transmission company, announced key decisions at its Board meeting held today. The meeting, which began at 5:50 PM and concluded at 7:15 PM, covered major financial, strategic, and investment initiatives.

Key highlights from the Board meeting include:

1. Fundraising Approval: POWERGRID has approved raising funds through an unsecured Rupee Term Loan or Line of Credit up to ₹5,000 crore from Union Bank of India, aimed at supporting its ongoing and future projects.

2. Centralized Security Operations Center: The Board sanctioned an investment of ₹233.96 crore for the establishment of a Centralized Security Operations Center for Substations – OT SOC. The project is expected to be implemented within 24 months of receiving CERC approval.

3. Subsidiary Divestment: The Board granted in-principle approval for divesting its entire equity stake in Central Transmission Utility of India Limited (CTUIL), a wholly owned subsidiary, to Grid Controller of India Limited (GRID-INDIA).

4. Strategic International Alliance: POWERGRID will enter a strategic alliance with Africa50 and Uganda Development Bank (UDB) for the development of a transmission project in Uganda under the Independent Power Transmission (IPT) model. A framework agreement for this collaboration will be signed shortly.

These decisions reflect POWERGRID’s focus on strengthening its financial position, modernizing operational security, and expanding international partnerships in the energy transmission sector.

About POWERGRID:
POWERGRID Corporation of India Limited is India’s central transmission utility, responsible for planning, implementing, and maintaining power transmission networks across the country, contributing to grid reliability and national energy security.