PowerGrid inks Rs 5,300 crore generation JVs

New Dehi, March 23 | Updated: Mar 24 2006, 05:30am hrs
PowerGrid entered into agreements with a number of private power producers for setting up of transmission systems associated with their generation projects, through joint ventures. The cost of these projects has been pegged at over Rs 5,300 crore.

MoUs were signed with power developers including ONGC, Essar Power, Jai Prakash,Torrent Group in the presence of power minister, Sushil Kumar Shinde. It has also agreed to invest 26% equity in these joint ventures. The power evacuation systems are for ONGC's and IL&FS 1100 mw power project in Tripura, Essar Power's 1,500 mw project at Hazira, 1200 mw Teesta hydro project in Sikkim, Jai Prakash Group's 1,000 mw project in Himachal and Torrent's 1100 mw project in Gujarat.