"Power Grid to Establish Joint Venture for ₹10,000 Crore Transmission Projects in Rajasthan"

On Monday, Power Grid announced the signing of a Memorandum of Understanding (MoU) with Rajasthan Rajya Vidyut Prasaran Nigam Ltd (RRVPNL) to establish a joint venture aimed at undertaking intra-state transmission projects valued at Rs 10,000 crore. As per a BSE filing by Power Grid Corporation of India, the proposed joint venture will execute projects in Rajasthan in a phased manner. The MoU was officially signed on March 10, 2024.

According to the filing, Power Grid will hold a majority stake of 74 percent in the joint venture, while RRVPNL will possess the remaining 26 percent stake.

Power Grid, a central public sector undertaking under the administrative control of the Ministry of Power, primarily focuses on the transmission of bulk power across various states. Meanwhile, RRVPNL operates as a public sector undertaking within Rajasthan.

ET