vishnuvega
24-11-2007, 07:38 AM
Power Grid Corporation of India (PGCIL) on Friday said it has entered into an agreement with Anil Ambani group firm Reliance Energy (REL) to set up a joint venture firm for executing transmission projects.
The two companies have signed the shareholders' agreement and other agreements to this effect, PGCIL said in a filing to the Bombay Stock Exchange.
The joint venture firm will evacuate electricity from NTPC's Koldam hydel project as well as from National Hydroelectric Power Corp's Parbati plant in Himachal Pradesh. It will lay about 300 km of transmission lines from Parbati to Koldam and Koldam to Ludhiana in Punjab, it said.
The public sector firm will have a 26% equity in the joint venture while Reliance Energy will hold 74%.
NHPC is establishing 800 MW Parbati-II project and NTPC is setting up the 800 MW Koldam plant, it added.
The two companies have signed the shareholders' agreement and other agreements to this effect, PGCIL said in a filing to the Bombay Stock Exchange.
The joint venture firm will evacuate electricity from NTPC's Koldam hydel project as well as from National Hydroelectric Power Corp's Parbati plant in Himachal Pradesh. It will lay about 300 km of transmission lines from Parbati to Koldam and Koldam to Ludhiana in Punjab, it said.
The public sector firm will have a 26% equity in the joint venture while Reliance Energy will hold 74%.
NHPC is establishing 800 MW Parbati-II project and NTPC is setting up the 800 MW Koldam plant, it added.