Power Grid Corporation of India is reportedly planning to ink pact with Uttar Pradesh Power Transmission Corporation to form an equal joint venture company to strengthen the intra-state transmission network. The joint venture company will have to secure a transmission licence from the Uttar Pradesh Electricity Regulatory Commission.
Moreover, the central ministry of power and NITI Aayog are facilitating the joint venture, that is expected to come to fruition by the end of the ongoing financial year.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.