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.
