Power Grid on Monday said it has signed an MoU with Rajasthan Rajya Vidyut Prasaran Nigam Ltd. to form a joint venture to undertake intra-state transmission projects worth Rs 10,000 crore.
The proposed JV shall undertake the projects in Rajasthan in a phased manner, a BSE filing by Power Grid Corporation of India stated. The Memorandum of Understanding was signed on March 10, 2024.
According to the filing, Power Grid will have 74% stake in the JV while RRVPNL will have 26% stake.
Power Grid is a central public sector undertaking under administrative control of Ministry of Power and engaged mainly in transmission of bulk power across different states.
RRVPNL is a public sector undertaking in Rajasthan.
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