New Delhi: Powergrid Corporation of India Limited (PGCIL) has signed a memorandum of understanding (MoU) with Rewa Ultra Mega Solar Limited on Thursday in Bhopal, Madhya Pradesh. As per the MoU, POWERGRID will provide project management consultancy services for the implementation of transmission system for evacuation of power from 1,500 MW solar parks in Neemuch, Shajapur and Agar districts of Madhya Pradesh.
The agreement has been signed by Rajeev Ranjan Meena (IAS), Managing Director of MP Urja Vikas Nigam, and Executive Director (BDD), CC in the presence of Manu Shrivastava (IAS) Principal Secretary New & Renewable Energy of Madhya Pradesh and Executive Director (WR -II) POWERGRID. The signing ceremony was held in the presence of Harsh Yadav, Minister for New and Renewable Energy & Cottage and Village Industries Development government of Madhya Pradesh. Total estimated project cost is Rs 556 crore and consultancy fee shall be presently worked out to Rs 44.48 crore. Earlier to this, POWERGRID had bagged a consultancy assignment in Bangladesh for "Transmission Planning and Project Preparatory Studies.
POWERGRID had also signed three major consultancy contracts with Nepal Electricity Authority with aggregated consultancy fee of about Rs 45 crore. The projects are funded by the Asian Development Bank (ADB). These have been bagged under international competitive bidding.
POWERGRID is a state-owned electric utility company headquartered in Gurugram. The company transmits about 50 percent of the total power generated in India through the transmission network. Its former subsidiary company Power System Operation Corporation Limited (POSOCO) handles power management for the national grid and all state transmission utilities.