Power Grid Corporation of India and Rajasthan Rajya Vidyut Prasaran Nigam (RVPN) have jointly formed Rajasthan Power Grid Transmission Company to develop the intra-state transmission infrastructure in Rajasthan, Power Grid Corporation of India said in a statement released on the stock exchanges.
Power Grid has announced the incorporation of Rajasthan Power Grid Transmission Company Limited as a joint venture with Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN).
The new company, formed on November 27, 2024, aims to develop the intra-state transmission system in Rajasthan. Power Grid holds a 74% stake in the JV, while RVPN holds a 26% stake.
The registered capital of the company is ₹5 lakh, with both entities contributing to its growth. Relevant approvals for the formation of this JV have been received from the Department of Investment and Public Asset Management (DIPAM), Government of India.
Power Grid Corporation acquired Rajasthan IV 4A Power Transmission Limited (RIV4APTL) under the Tariff Based Competitive Bidding (TBCB) route. The acquisition will enable Power Grid to establish a critical transmission system to evacuate power from the Rajasthan Renewable Energy Zone (REZ) Phase-IV.
This project involves the development of 765/400kV substations in Uttar Pradesh and transmission lines across Rajasthan and Uttar Pradesh. Valued at ₹18.37 crore, the acquisition includes 50,000 equity shares and the assets of RIV4APTL.
With the regulatory approvals in place, this acquisition aligns with Power Grid’s broader strategy to expand its transmission infrastructure, contributing to the strengthening of India’s power transmission network.
On January 01, 2025, Power Grid Corporation of India’s share price traded 0.36% higher at ₹309.55 at 1:45 PM on the NSE. The stock opened at ₹308.70, unchanged from its previous close.
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