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New Delhi Feb.23 Jaiprakash Hydro Power Ltd (JHPL), a subsidiary of the flagship company of the Jaypee Group, Jaiprakash Associated Ltd, has entered into a joint venture with Power Grid Corporation of India Ltd (PGCIL) for setting up the transmission system associated with the 1,000 MW Karcham Wangtoo Hydoelectric Project in Himachal Pradesh. Jaypee Karcham Hydro Corporation Ltd will execute the project.

The joint venture will be called Jaypee Powergrid Ltd wherein JHPL will hold 74 per cent of the equity and the remaining 26 per cent will be held by PGCIL.

More Stories on : Alliances & Joint Ventures | Power

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