Power Grid Corporation of India Ltd to set up subsidiary.

Power Grid Corporation of India Ltd. (POWERGRID) has received a letter dated 17.06.2020 from Ministry of Power advising to set up a 100% Subsidiary with separate accounting and Board structure, which would be responsible for carrying out statutory functions, as identified for Central Transmission Utility (CTU) under the Electricity Act, 2003, and also other functions assigned to CTU by CERC. The aforementioned 100% subsidiary company (CTU) would be separated as a wholly owned Government of India company within 6 months or till the completion of formalities for creation of the aforementioned company.

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