Power Grid Corporation of India Ltd. (PGC) is the Central Transmission Utility (CTU) of the country and a Navratna Company operating under Ministry of Power. It is headquartered in Gurugram and transfers almost half of all power generated in India.
We analyzed the tariff-based competitive bidding (TBCB) projects from the annual reports of Power Grid’s (PWGR) subsidiaries. In our view, PWGR will generate more than 14% equity IRR (debt/equity ratio of 80/20) on its TBCB projects.
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