Power Grid Corporation of India has executed a Shareholders’ Agreement (SHA) with Rajasthan Rajya Vidyut Prasaran Nigam (RVPN) to form a Joint Venture Company (JVC) for development of Intra-State Transmission System in the State of Rajasthan.
As per SHA, the company and RVPN will hold 74% and 26% Equity Share Capital, respectively, in the proposed JVC. The proposed JVC shall have 10 Directors of which 7 shall be nominated by the company and 3 shall be nominated by RVPN.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
