Power Grid Corporation of India Ltd is in the process of carving out its telecom vertical to a new fully-owned subsidiary, Powergrid Teleservices Ltd, in a bid to have a "focused approach" and to move up the value chain, senior company officials said.
The move by the state-run power transmission major comes close on the heels when the telecom sector is ramping up its 5G service across the country to bring business transformation that can contribute two per cent to the national GDP.
The state-owned power transmission major has also got approval from the Central Electricity Regulatory Commission (CERC) to operate data centres.
"The telecom division of Powergrid will be transferred to the new subsidiary Powergrid Teleservices after receiving all regulatory approvals to provide greater impetus to the business and move up the value chain by entering into the data centre business. The process for regulatory clearance is in progress," Powergrid executive director (telecom) B Vamsi Rama Moh
