Amidst a recent development, the Maharatna PSU POWERGRID signed a historic Memorandum of Understanding (MoU) with the Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL). This ostentatious event was attended Mr. R K Singh, the incumbent Cabinet Minister of Power and New & Renewable Energy, Mr. Bhajanlal Sharma, Chief Minister of Rajasthan, and Mr. R K Tyagi, CMD of POWERGRID.
This momentous MoU is dedicated to establishing a Joint Venture company that shall augment the development of an intra-state transmission system in Rajasthan. Following the agreement, the equity participation has been agreed at 74% by POWERGRID and 26% by RRVPNL.
This strategic collaboration aims to facilitate the phased development of projects within Rajasthan, with a substantial financial commitment of up to Rs. 10,000 Crores. The Joint Venture company, thus established, shall strive to enhance the intra-state transmission system and foster an efficient and reliable power transmission within the region. When the Joint Venture gets established and starts functioning, it is expected to play a pivotal role in catering to the growing energy demands of Rajasthan without compromising on sustainability.
