POWERGRID signs deal to acquire 74% stake in Jaiprakash Power Ventures Ltd

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.

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

(With Inputs from PIB)