Powergrid signs agreement with Jaiprakash Power Venture Limited
The power transmitted is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh, and Rajasthan.
Gurugram: Power Grid Corporation of India Limited (POWERGRID) has signed a Share Purchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire a 74% stake in Jaypee Powergrid Limited-JV (JPL) in which POWERGRID holds 26% equity, will become a wholly-owned subsidiary of POWERGRID following this acquisition.
JPL-JV has developed a 214 Km long EHV power transmission project to evacuate power from the Karcham-Wangtoo project in the state of Himachal Pradesh. The power transmitted is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh, and Rajasthan.
POWERGRID is a Maharatna PSE under the Ministry of Power, Government of India.
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