New Delhi: Power Grid Corporation of India Limited (POWERGRID), a Maharatna PSE under Ministry of Power, Government of India has signed a Share Purchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire 74 percent stake in Jaypee Powergrid Limited-JV (JPL) in which POWERGRID holds 26% equity.

JPL 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.

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Rahul Bhandari is Editor of TheNewsHimachal and has been part of the digital world for last 15 years.