India's Power Grid Corp. to set up energy efficiency unit

Pursuing diversification agenda, electricity transmission utility Power Grid Corp. of India Limited planned to set up an unit for providing energy efficiency solutions, said the media report.

The state-owned firm also intends to start manufacturing towers, conductors as well as equipment through joint ventures.

According to a corporate presentation made this month, the company plans to set up energy efficiency service company (ESCO) to provide energy efficiency solutions.

With regard to the plan for joint ventures, the utility has inked a memorandum of understanding with NALCO to explore opportunities in manufacturing conductors.

Meanwhile, Power Grid has finalized projects worth nearly $1.4 billion for developing intra-state transmission lines through joint ventures.

In this regard, agreements have been made with Bihar and Odisha, with a total project cost of $1.4 billion being finalized.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs