Powergrid plans ₹3 lakh crore capex by 2032

New Delhi

Power Grid Corporation of India Ltd (POWERGRID), a government-owned Maharatna PSU, announced a capital expenditure (capex) plan exceeding ₹3 lakh crore by 2032. According to its investor presentation, the total projected capex stands at ₹3,06,600 crore, with ₹2,99,100 crore allocated to its core transmission business and ₹7,500 crore earmarked for other sectors.

Currently, POWERGRID has ₹1,54,680 crore worth of ongoing projects. Of this, ₹1,05,094 crore is linked to Tariff Based Competitive Bidding (TBCB) projects and ₹37,221 crore to Real-Time Market (RTM) initiatives. RTM work in progress includes ₹9,580 crore, and ₹2,785 crore falls under other categories.

For the coming years, POWERGRID’s capex is set at ₹28,000 crore for FY 2025-26, ₹35,000 crore in FY 2026-27, and ₹45,000 crore by FY 2027-28. The PSU is also focusing on sustainability targets—aiming for 50% of electricity consumption from renewable sources by 2025. Additionally, it wants to be net water positive by 2030 and achieve zero landfill waste.

The company reported significant emission reductions, including a 40.61% cut in Scope-1 emissions and a 5.23% drop in Scope-2 emissions. Looking ahead, the power sector anticipates major developments in clean energy storage. Battery Energy Storage Systems (BESS) are expected to reach 47 GW, while pumped hydro storage could hit 36 GW by 2032.

India’s non-fossil fuel power capacity is projected to reach 600 GW, with 71 GW needed for green hydrogen production alone, POWERGRID noted.