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.

Powergrid signs agreement with Jaiprakash Power Venture Limited

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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