CCEA nod to divest Power Grid Corp’s transmission assets

The Cabinet Committee on Economic Affairs (CCEA) on Tuesday gave its approval to plans to monetize state-run Power Grid Corp. of India Ltd’s (PGCIL) transmission projects that were won through a bidding process.

As part of the new disinvestment playbook, the public sector unit will start with monetizing five such tariff-based competitive bidding (TBCB) assets valued at around ₹7,164 crore, held in existing special purpose vehicle (SPVs), through an infrastructure investment trust (InvIT) in the current fiscal year.

This comes against the backdrop of the coronavirus pandemic forcing an unprecedented economic disruption.