POWERGRID signs agreement with Jaiprakash power ventures limited

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POWERGRID signs agreement with Jaiprakash power ventures limited

Sunday, 21 March 2021 | Agencies | Gurugram

Power Grid Corporation of India Limited (POWERGRID) has signed a SharePurchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire74% stake in Jaypee Powergrid Limited-JV (JPL) in which POWERGRID holds26% equity.

JPL will become a wholly owned subsidiary of POWERGRIDfollowing this acquisition.JPL-JV has developed a 214 Km long EHV power transmission project toevacuate power from Karcham-Wangtoo project in the state of HimachalPradesh.   

The power transmitted is meant for distribution and consumption instates of Himachal Pradesh.

 Haryana, Punjab, Uttar Pradesh and Rajasthan.POWERGRID is a Maharatna PSE under Ministry of Power, Government ofIndia.

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