PowerGrid to sign pacts with pvt cos

"The company plans to join hands with Reliance Energy Ltd, Torrent Power, Infrastructure Leasing and Financial Services, and Jindal Steel and Power Ltd shortly for evacuation of power," a company official said.

The corporation will have a minority stake of 26 per cent in the joint venture joint ventures (JV) while the developer will hold the rest.

The agreement with Reliance Energy Ltd. will involve setting up two power transmission projects for evacuation of power from Koldam and Parbati hydel power projects in Himachal Pradesh.

The company may also enter into a JV with Torrent Power for evacuation from Torrent's 1100-Mw plant in Gujarat. The other JV on the cards is with IL&FS for power evacuation from an upcoming 750-Mw gas-based power plant in Tripura.

PGCIL's JV with Jindal Steel and Power Ltd will be for taking power from its 1,000-Mw plant in Chhattisgarh.