The decision to broaden their horizon is based on account of poor thermal power generation activity within the country in recent years.
According to India’s Financial Express, a senior company official said: “We plan to bid for some two-three packages out of 11 packages worth $14 billion, being tendered by the government of Brazil."
“We are waiting to formalise a local partner who will be registered in Brazil to undertake the execution work. The bids have to be submitted by December-end,” the official added.
PowerGrid Corporation is an Indian state-owned electric utilities company headquartered in Gurugram.
As a member of the BRICS states, which includes Brazil, Russia, India, China and South Africa, the company is reported to already have foothold in 21 countries, mainly in Africa outside India providing consultancy services. Read more...
However, with this new venture it will be the company’s first time that they will be looking out of India for an EPC opportunity.
The contract would involve transmission lines, towers and setting up substations, the official said adding that they are open to similar opportunities in other countries, such as Myanmar and Sri Lanka and other Southeast Asian countries.
“We are in discussion with some of them and evaluating our options,” the PowerGrid Corporation official added.
PowerGrid Corporation secures bid
In related news, Power Grid recently announced its declaration as a successful bidder under Tariff Based Competitive Bidding.
India Infoline reported that the announcement came under the terms of Regulation 30 of the Securities and exchange Board of India Regulations, 2015.
The bidding was done to establish ‘Eastern Region Strengthening Scheme -XXI (ERSS-XXI)’on Build Own, Operate, and Maintain Basis.
With the new bidding in place, the company will be traversing the transmission system in the state of Bihar, with the establishment of three new 400kV substations and associated 400kV transmission lines.
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