Power Grid to set up arm for energy efficiency solutions

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Power Grid to set up arm for energy efficiency solutions
Pursuing diversification agenda, electricity transmission utility Power Grid has planned to set up an unit for providing energy efficiency solutions, said the media report.The state-owned major 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 (MoU) with NALCO to explore opportunities in manufacturing conductors.

Meanwhile, Power Grid has finalised projects worth nearly Rs 8,800 crore 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 Rs 8,790 crore being finalised.

Dion Global Solutions Ltd.

Story first published: Monday, November 25, 2013, 12:42 [IST]
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