POWERGRID Signs Agreement to Acquire 74% Stake in J P Ventures Limited
The public sector unit Power Grid Corporation of India Ltd (PGCIL) has signed an agreement with Jaiprakash Power Ventures Ltd (JPVL) to acquire 74% stake in Jaypee Powergrid Ltd
March 22, 2021. By News Bureau
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% stake in Jaypee Powergrid Limited-JV (JPL) in which POWERGRID holds 26% equity. After the acquisition of the 74% stake JPL will become a wholly-owned subsidiary of PGCIL. Jaypee Powergrid Ltd is a joint venture between Power Grid Corporation and JPVL
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.
PGCIL is engaged in the business of transmission lines
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