POWERGRID Signs SHA with RVPN to Form JV for INR 10,000 Cr Transmission Projects in Rajasthan
POWERGRID has executed a shareholders’ agreement with Rajasthan Rajya Vidyut Prasaran Nigam Ltd. (RVPN) to form a Joint Venture Company (JVC) for the development of Intra State Transmission System in Rajasthan.
October 01, 2024. By Mrinmoy Dey
As per the SHA, POWERGRID and RVPN will hold 74 percent and 26 percent equity share capital, respectively, in the proposed JVC. The two parties inked a MoU in March 2024 for this purpose.
“The proposed JVC shall have 10 Directors of which seven shall be nominated by POWERGRID and three shall be nominated by RVPN,” shared POWERGRID in a regulatory filing.
It further added that the proposed JV company will undertake projects worth up to INR 10,000 crore in a phased manner.
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