Powergrid signs mou with RRVPNL to incorporate a Joint Venture

Power Grid Corporation has packed an agreement with Rajasthan Electricity Board to enter into a joint venture memorandum for the development of an electricity transmission system.

Powergrid signs mou with RRVPNL to incorporate a Joint Venture

New Delhi: According to the exchange filing made by state-owned regulatory,  it is stated that under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Power Grid Corporation of India Limited (POWERGRID) has executed a Memorandum of Understanding (MoU) with Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL) on 10th March 2024 to incorporate a Joint Venture (JV) Company for development of Intra State Transmission System in the state of Rajasthan with an equity Participation of 74% by POWERGRID and 26% by RRVPNL.

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The proposed JV company shall undertake projects worth up to Rs. 10,000 crore in a phased manner. Powergrid is a Central Public Sector Undertaking under the administrative control of the Ministry of Power and engaged mainly in the transmission of bulk power across different states. While RRVPNL is a public-sector undertaking in Rajasthan.

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