Power Grid Corporation of India’s board of directors has approved the establishment of joint venture (JV) companies with Odisha Power Transmission Corporation Ltd and Bihar State Power (Holding) Co Ltd for taking up intra-State transmission projects in the respective States.
The scope of intra-State works is yet to be finalised. The joint venture companies to be formed may have a debt equity structure of 80:20 and will have a suitable payment security mechanism, PGCIL said in a communication to stock exchanges.