Power Grid to incorporate a joint venture company with Rajasthan Rajya Vidyut Prasaran Nigam Limited for the development of an intra state transmission system in Rajasthan.

Mar 18, 2024

The Power Grid Corporation of India has executed a Memorandum of Understanding (MoU) with Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL) to undertake projects worth up to INR 10,000 crore in a phased manner for the development of intra state transmission system in Rajasthan.

The state-owned regulatory said in an exchange filing that under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it has executed a Memorandum of Understanding (MoU) with RRVPNL to incorporate a joint venture (JV) company with an equity participation of 74 percent by Power Grid and 26 percent by RRVPNL.

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Powergrid is a Central Public Sector Undertaking under the administrative control of the Ministry of Power, which is mainly engaged in the transmission of bulk power across different states of the country. Approximately 50 percent of India’s total generated power is transmitted through Powergrid’s transmission network.

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As on January 31, 2024, the company’s transmission network spanned approximately 176,762 ckm of Extra High Voltage (EHV) transmission lines and comprised 276 EHV AC & HVDC Sub-stations, boasting a transformation capacity of 5,20,546 MVA.

RRVPNL is a public sector undertaking in Rajasthan.