POWERGRID Signs Agreement To Acquire 74% Stake In Jaiprakash Power Ventures Limited

The power transmitted is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh and Rajasthan

Posted : 22 March, 2021
Author : Admin
POWERGRID Signs Agreement To Acquire 74% Stake In Jaiprakash Power Ventures Limited

Power Grid Corporation of India Limited (POWERGRID), a Maharatna PSU under Ministry of Power, Government of  India has signed a Share Purchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire 74% 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 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.