Joint Venture23 Apr 2024, 11:38 pm
POWER GRID CORPORATION OF INDIA Signs Supplementary JV Agreement with NHPTL, Revises Equity Holding to 50%
AI Summary
POWER GRID CORPORATION OF INDIA Ltd. has signed a supplementary Joint Venture Agreement -3 with NHPTL, following a meeting held with Ministry of Power for the long-term sustainability of NHPTL. POWERGRID, one of the shareholders in NHPTL, will infuse funds, and as a result, their equity holding will increase to 50%. The remaining 50% will be held equally by the other four JV partners: NTPC, NHPC, DVC, and CPRI.
Key Highlights
- POWER GRID signs supplementary JV Agreement with NHPTL
- POWERGRID's equity holding in NHPTL increases to 50%
- Equity infusion to support the long-term sustainability of NHPTL
- Other JV partners to hold equal shares in NHPTL
- Meeting between Ministry of Power, GOI and NHPTL stakeholders