Powergrid Corporation of India’s (POWERGRID) board has approved raising up to ₹50 billion (~$541.45 million) through an unsecured rupee term loan or line of credit from the Union Bank of India.

The loan will provide the company with additional financial resources for its operational and strategic requirements.

The board also granted approval to divest POWERGRID’s equity stake in Central Transmission Utility of India, which is currently a wholly owned subsidiary of the company. The proposed divestment will involve transferring the stake to the Grid Controller of India.

POWERGRID also approved an investment to establish a centralized security operations center for substations.

The project is estimated to cost ₹2.33 billion (~$25.23 million) and is intended to strengthen cybersecurity and operational monitoring of substations. The project is scheduled for implementation within 24 months of approval by the Central Electricity Regulatory Commission.

Further, POWERGRID will enter into a strategic alliance with Africa50 and Uganda Development Bank. As part of this collaboration, POWERGRID will sign a framework agreement to develop a transmission project in Uganda under the independent power transmission model, marking a step toward expanding the company’s international presence.

Recently, the Cabinet Committee on Economic Affairs raised the permissible equity investment limit for POWERGRID in its subsidiaries to ₹75 billion (~$825.25 million) per subsidiary, up from ₹50 billion (~$550.17 million). However, POWERGRID’s investments in its subsidiaries must not exceed 15% of its net worth.

Last November, POWEGRID approved the launch of its 83rd bond issue under its 2025-26 program, authorizing the company to raise ₹38 billion (~$428.72 million). The bond issue had a base size of ₹10 billion (~$112.82 million) and a greenshoe option of ₹28 billion (~$315.90 million). POWERGRID said the bonds will remain unsecured, and no charge or security will be created in connection with the issue.