The Power Grid Corporation of India Limited (PGCIL) has recently signed an agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire 74% stake in Jaypee Powergrid Limited for Rs 351.64 crore. Jaypee Powergrid Limited is a joint venture between Power Grid Corporation and JPVL. The JV firm has developed a 214 km long EHV power transmission project to supply electricity from Karcham-Wangtoo project in Himachal Pradesh.
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