Acquisition
Power Grid to acquire majority stake in Jaiprakash Power Ventures
New Delhi/UNI: Public Sector Power Grid Corporation of India will acquire 74% stake in Jaypee Powergrid Limited.
Power Grid, so far held 26% equity in the JPL joint venture, has signed a share purchase agreement with a private firm to acquire the majority stake, thus making JPL a wholly owned subsidiary of Maharatna enterprise, a Ministry of Power statement said.
JPL-JV has developed a 214 Km-long extra-high voltage power transmission project to evacuate power from Karcham-Wangtoo project in Himachal Pradesh, this power transmitted is meant for distribution and consumption in Himachal Pradesh, Haryana, Punjab, Uttar Pradesh, and Rajasthan.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
