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PowerGrid signs agreement with Jaiprakash Power Ventures Tufte CSS

PowerGrid signs agreement with Jaiprakash Power Ventures

to acquire 74 % stake
in Jaypee PowerGrid

JPL will become a wholly- owned subsidiary of PowerGrid following this acquisition. .

Thesynergyonline Corporate Bureau

GURUGRAM , MARCH 19 : Power Grid Corporation of India Limited (PowerGrid) has signed a Share Purchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire 74 per cent stake in Jaypee Powergrid Limited-JV (JPL) in which PowerGrid holds 26 per cent equity.

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.

PowerGrid is a Maharatna PSE under Ministry of Power, Government of India. .

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