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Power Grid Corporation of India Ltd. Company History and Annual Growth Details

The Company was incorporated on October 23, 1989 under the Companies Act 1956 as ‘National Power Transmission Corporation Limited’, with the responsibility of planning, executing, owning, operating and maintaining the high voltage transmission systems country. We received a certificate for commencement of business on November 8, 1990. The name of the Company was changed to its present name ‘Power Grid Corporation of India Limited’ and a fresh certificate of incorporation was issued on October 23, 1992. The name of the Company was changed to its present name from ‘National Power Transmission Corporation Limited’ as its then abbreviated form, ‘NPTC Limited’, had close resemblance to another existing company, namely, NTPC Limited (NTPC). As on September 30, 2013, the total number of holders of Equity Shares of the Company was 850,252. The Company is presently listed on the BSE and the NSE. For further information on The business including description of the activities, services, market of each segment,The growth, technology, market, managerial competence and capacity build-up, The standing with reference to The prominent competitors, The Company is not operating under any injunction or restraining order. Transfer of transmission assets from generating units Initially, The Company was engaged in the management of the transmission assets owned by the central power generating companies such as the NTPC, NHPC Limited (NHPC) and North-Eastern Electric Power Corporation Limited. Pursuant to the National Thermal Power Corporation Limited, the National Hydroelectric Power Corporation Limited and the North-Eastern Electric Power Corporation Limited (Acquisition and Transfer of Power Transmission Systems) Act, 1993 (Power Transmission Systems Act) the right, title and interest of these three power generating companies in relation to the power transmission system, comprising the main transmission lines, including the extra high voltage alternative current transmission lines and the HVDC lines, and sub-stations, owned by them, were acquired by the GoI and transferred to the Company, with effect from April 1, 1992. Under the Power Transmission Systems Act, The Company acquired all the rights, liabilities, assets, leaseholds, powers, authorities and privileges and all movable and immovable property relating to the power transmission systems owned by the three generating companies. The Power Transmission Systems Act also provided that all employees of the three generating companies who were associated with power transmission systems would be deemed to be the employees of the Company. The right, title and interest of Neyveli Lignite Corporation Limited in the power transmission system were transferred to the Company with effect from April 1, 1992 under the Neyveli Lignite Corporation Limited (Acquisition and Transfer of Power Transmission System) Act, 1994. The transmission business of Nuclear Power Corporation Limited, including ongoing and new projects was transferred to The Company with effect from August 1991. The transmission assets of Tehri Hydro Development Corporation Limited have also been transferred to the Company with effect from August 1993, pursuant to memorandum of understanding executed with the Company.

National and Regional Load Despatch Functions

In 1994, the GoI entrusted The Company with the further responsibility of controlling the existing load despatch centres in the country with a view to achieve better grid management and operation. Pursuant to this decision, the control of the five regional load despatch and communication centres was transferred to The Company in a phased manner between 1994 and 1996. The Company has undertaken the ULDC and communication project (ULDC Project) under which modernized load despatch facilities have been established in each of the five
regional centres. The implementation of the ULDC Project has, amongst other things, caused the reduction of grid disturbances, improved grid reliability and facilitated the effective implementation of availability based tariff. NLDC main and back-up commenced commercial operation with effect from April 1, 2009. The NLDC is responsible for monitoring the operations and grid security of the national grid and supervises the scheduling and despatch of electricity over inter-regional lines in coordination with the RLDCs. The wholly-owned subsidiary, POSOCO, was incorporated in March 2009 to oversee the grid management function of the
operations. It received the certificate of commencement of business under the Companies Act 1956 in March 2010 and commenced operations in October 2010. Accordingly, movable assets relating to RLDCs and NLDC and related documents have been transferred to POSOCO and are in operation under POSOCO since October 1, 2010.

Designation as the CTU

The Company was notified as the Central Transmission Utility by the GoI on December 31, 1998. We continue to be the CTU under the Electricity Act as per the notification issued by the GoI on November 27, 2003. Amongst other functions, as CTU we are required to

(a) undertake transmission of electricity through the interstate transmission system;

(b) discharge all functions of planning and co-ordination relating to inter-state transmission systems, with certain specified authorities and stakeholders;

(c) ensure development of an efficient,

coordinated and economical system of inter-state transmission lines for smooth flow of electricity from generating stations to load centres; and (d) provide non-discriminatory open access to its transmission system for use by any licensee or generating company on payment of transmission charges and to any consumer on payment of transmission charges and a surcharge thereon in accordance with the Electricity Act. Under the Electricity Act, the CTU is required to undertake the functions of the RLDC which is responsible for

(a) optimum scheduling and despatch of electricity within the region, in accordance with the contracts entered into with the licensees or the generating companies operating in the region;

(b) monitor grid operations;

(c) keep accounts of quantity of electricity transmitted through the regional grid;

(d) exercise supervision and control over the inter-state transmission system; and

(e) carrying out real time operations for grid control and despatch of electricity within the region through secure and economic operation of the regional grid in accordance with
the grid standards and grid code. POSOCO has been entrusted with the responsibility to operate the RLDC pursuant to a notification dated September 27, 2010 issued by the GoI. Accordingly, POSOCO is responsible for overseeing the grid management function of the RLDCs and NLDC. However, the National Electricity Policy states that the existing arrangement of CTU operating the RLDCs will be reviewed by the GoI based on the experience of working with the existing arrangement.

Navratna Company

On May 1, 2008, The Company was notified as a Navratna company by the GoI, through notification (DPE OM No. 26(3)/2005-GM-GL-92). As a Navratna company, we are eligible for enhanced delegation of powers to the Board, including

(a) power to incur capital expenditure for setting up new projects or expansion of existing
projects, without governmental approval;

(b) ceiling on equity investment to establish financial joint ventures
and wholly owned subsidiaries in India or abroad of 15% of the net worth of the Company in one project limited to Rs.10,000 million and the overall ceiling on such investments in all projects put together of 30% of the net worth of the Company;

(c) power to enter into merger and acquisitions subject to certain conditions; and

(d) power to further delegate the powers relating to human resource management (appointments, transfers, postings etc,) of below Board level executives to sub-committees of the Board or to executives of the Company as may be decided by The Board. Role in distribution reforms and rural electrification The Company has been assigned a significant role in relation to implementation of projects under the Rajiv Gandhi Grameen Vidyutikaran Yojana Scheme for Rural Electricity Infrastructure & Household Electrification (Rural Electrification Programme) for accelerated electrification of rural households to be undertaken in
association with REC, the concerned state government and state power utility.

Major events

1989

- The Company was incorporated as ‘National Power Transmission Corporation Limited’.

1991

- Transmission assets from Nuclear Power Corporation Limited were transferred to the Company.

1992

- Transmission assets from NTPC, NHPC and North-Eastern Electric Power Corporation Limited were transferred to the Company, with effect from April 1, 1992, pursuant to legislation promulgated by the Parliament. The name of the Company was changed from ‘National Power Transmission Corporation Limited’ to ‘Power Grid Corporation of India Limited’.

1993

- Transmission assets of Tehri Hydro Development Corporation Limited were transferred to the Company pursuant to a memorandum of understanding executed between the parties.

1994

- The Company entered into a memorandum of understanding with the MoP, which is revised annually. We achieved the highest rating of ‘Excellent’ under the memorandum of understanding. Transmission assets from Neyveli Lignite Corporation Limited were transferred to the Company, with effect from April 1, 1992, pursuant to legislation promulgated by the Parliament.

1996

- Five Regional Load Despatch & Communication Centres were in the management of the Company

1998

- The Company formulated an Environment and Social Policy and Procedures Code to deal with environmental and social issues relating to its transmission projects. The Company was formally notified as a CTU by the GoI. The Company was declared as a Mini Ratna Category I public sector undertaking by the GoI.

2002

- The unified load despatch and communications schemes for the northern and southern regions were commissioned. Part of the Sasaram HVDC back to back transmission system developed by The Company was commissioned contributing towards the development of the first phase of the construction of the National Grid. The Company was issued a registration for Infrastructure Provider Category- I (IP-I) from Director (BS-III), Ministry of Communications and Information Technology.

2003

- The Company entered into a joint venture arrangement with The Tata Power Company Limited implementing a part of the entire transmission system associated with Tala Hydro-Electric Project. The 400 kV Raipur-Rourkela transmission line developed by The Company was commissioned and the Western region, Eastern Region and North-Eastern Region began operating in a synchronized manner with a cumulative capacity of 50,000 MW.

- The Company secured its first international consultancy contract from Bhutan Telecommunications.

- The Company was granted the License for maintaining and operating Internet Service on a non-exclusive basis in India pursuant to the License Agreement dated May 29, 2003 entered into with the Assistant Director General (LR V), DoT.

2004

- The Company entered into an MoU with REC for undertaking rural electrification works under the Rajiv Gandhi Grameen Vidyutikaran Yojana.

2005

- The unified load despatch and communications scheme for the eastern region was commissioned.

2006

- The unified load despatch and communications scheme for the western region was commissioned.

- The Company was granted the license for installing, operating and maintaining the national long distance service network and providing national long distance service on a non-exclusive basis within the territorial boundaries of India pursuant to the License Agreement dated July 5, 2006 entered into with the Director (BSIII), DoT.

2007

- Dedication of transmission system associated with Tala Hydro-Electric Project by the Prime Minister Dr. Manmohan Singh. Listing of our Equity Shares on the Stock Exchanges through an
initial public offer.

2008

- The Company was declared as a Navratna public sector undertaking by the GoI.

2009

- The National Load Despatch Centre was established.

- The Subsidiary, Power System Operation Corporation Limited, was incorporated

- The 220 kV Double Circuit Transmission line from Pul-e-Khumri to Kabul Transmission System (230 kms) in Afghanistan was completed.

- Commissioning of the 220/110/20 kV Chimtala sub-station at Kabul, Afghanistan.

- Commissioning of the commercial operations of the National Load Despatch Centre.

2010

- The Company was selected as a consortium member to implement the National Knowledge Network Project, a telecommunication infrastructure project. The Company entered into an MoU with Jamia Millia Islamia University for among other things, providing expert opinion and knowledge support in areas for deployment of new technology such as sub stations automation, System Operator in Supervisory Control And Data Acquisition technology/ EMS, etc.

2011

- The Company participated in the TBCB for the first time.

2012

- The Company test charged 1,200 kV UHVAC line (the highest voltage in the world) and established its first 1,200 kV test centre. The Company adopted vision statement world class, integrated, global transmission company with dominant leadership in emerging power markets ensuring reliability, safety and economy and based on this vision statement also restated the mission statement.The Company established India’s first Smart Grid Control Centre at Puducherry, under pilot project.

2013

- The Company received its international rating from S&P and Fitch rating, for the first time.

- The Company became a part of the NOFN project.

- The Company signed an agreement with six north eastern region states (Assam, Meghalaya, Mizoram, Manipur, Nagaland and Tripura) to provide consultancy services as project design cum implementation supervision consultant for implementation of the North Eastern Region Power System Improvement Project.

Certifications, Awards and Recognitions

The Company has received the ‘Excellent’ rating under the memorandum of understanding with
the MoP from 1993-1994 to 2011-2012.

2007

- The Company was certified for PAS 99:2006, which integrates the requirement of ISO
9001:2008, ISO 14001:2004 and OHSAS 18001:2007 for standards in relation to quality,
environment and occupational health and safety standards respectively with respect to design,
engineering, procurement, constructionof transmission systems up to 1200kV AC, +/-800 kV,
HVDC, and operation, maintenance activities for transmission system up to 800kV AC & HDVC,
Supervisory Control and Data Acquisition (SCADA), Energy Management Systems and
Communication Projects.

2009

- The Company was awarded First Prize at IEEMA Power Awards

2009

- Ceremony for ‘Excellence in Power Transmission’ by NDTV Profit.

- The Company was recognised for its meritorious performance by the MoP for the year 2007-08 and won a Gold Shield for the transmission system at North Eastern region, a Silver Shield for the transmission system at the Western region and a Silver Shield for the early completion of the 400 kV Gooty - Raichur D/C (Quad) transmission project. The Company was featured in the list of top 250 global energy companies compiled by Platts, a leading provider of energy and commodities information. The Company was also named amongst the fastest growing global energy companies ranking for 2009 issued by Platts.

2010

- The Company was recognised for its meritorious performance by the MoP for the year 2009-10 and won a Gold Shield for the transmission system at Western region, a Silver Shield for the
transmission system at the Eastern region and a Silver Shield for the LILO of one ckt. of 400 kV
Maithon-Jamshedpur D/C at Mejia B.

- The Company is certified with SA 8000:2008 for its Social Accountability System.

- The Company was mentioned as being number 18 on the list of fastest growing Asian energy
companies, according to the Platts Top 250 Energy Company Rankings for 2010.

- The Company was also featured in the Forbes Global 2000 list.

- The Company was awarded the ‘Scope Award for Excellence and Outstanding Contribution to
the Public Sector Management (2008-09) in the Large Scale PSE Category’ by Standing
Conference of Public Enterprises and DPE.

2011

- The Company was awarded the ‘Environmental Excellence & Sustainable Development award- 2011’ by the Indian Chamber of Commerce.

- The Company was recognised for its meritorious performance by the MoP for the year 2010-11 and won a Gold Shield for the transmission system at Eastern region, a Gold Shield for the
transmission system at the North Eastern region and a Silver Shield for the transmission system at the Southern region.

2012

- The Company was awarded the ‘Excellence in Innovation in Tower Management’ award at the
INFOCOM CMAI National Telecom Awards 2011.

- The Company was conferred with ‘PowerLine Awards 2012’ in the ‘Best Performing Transmission Company’ by Power Line magazine

- The Company was awarded the ‘India Power Awards 2012’ under the ‘Largest Grid Operating
PSU category by Council of Power Utilities.

2013

- The Company was awarded the 4th DSIJ PSU Award 2012 for ‘Fastest Growing Navratna in Non-Manufacturing Category’ by Dalal Street Investment Journal.

- The Company also won the ‘Jury Award’ in Governance Now PSU Awards, 2013 by Governance Now, Institute for Competitiveness and Hammurabi and Solomon.

- The Company was ranked as the ‘Best Company by country’ of All -Asia in Power Sector
Category by Institutional Investors LLC.

-POWERGRID signs MoU with Ministry of Power, Govt. of India

-POWERGRID signs Agreements with six NER States for improvement of Intra- State Transmission and Distribution Systems

-POWERGRID bestowed with "Top Infrastructure Company Award" by Dun & Bradstreet

2014
-MOU signed between POWERGRID and Ministry of Power for FY 2014-15
-POWERGRID signs CSR MoA with AIIMS
-POWERGRID signs MoUs for supporting "Swachh Vidyalaya Abhiyan" of Govt. of India
-POWERGRID conferred with "Public Service Excellence Award 2014" by Delhi Institute of Management
-POWERGRID CMD conferred with "Eminent Electrical Engineer Award"
-POWERGRID conferred DSIJ PSU Award 2013 for being the "Fastest Growing Navratna PSU"

2015
-Power Grid Corpo - Acquisition of 'Vindhyachal Jabalpur Transmission Limited' by POWERGRID under Tariff Based Completive Bidd
-Power Grid Corpo - Acquisition of Gadarwara (A) Transco Limited and Gadarwara (B) Transmission Limited
-Power Grid Corporation has approved a Rs 2,247.37 crore investment plan for the third part of the inter-state electricity transmission project
-Power Grid Corporation has incorporated a wholly owned subsidiary company - Grid Conductors Ltd
-Power Grid Corporation - The Acquisition of Vemagiri II Transmission Ltd by POWERGRID

2016
-Power Grid Corporation Successfully charged the 1st element of the Project: Khammam - Nagarjunasagar 400kV D/C Transmission
-Power Grid gets board approval for investment proposal worth Rs 3324 crores
-Power Grid begins E-Reverse auction to procure major power equipments
-Power Grid operationalizes 1,200 kV test station at Bina
-POWERGRID completed Unchahar-Fatehpur 400 kV D/c line under TBCB
-POWERGRID completed Srikakulam - Vemagiri 765 kV D/c line under TBCB
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