PGCIL signed an agreement with Jaiprakash Power Ventures Ltd (JPVL) to acquire 74 per cent stake in JPL owned by JPVL. On completion of this transaction, JPL will become a wholly-owned subsidiary of PGCIL. JPL was formed by joint venture of PGCIL and JPVL to implement 214 km long EHV power transmission infrastructure associated with Jaypee Groups 1,000-mw Karcham- Wangtoo hydropower project in Himachal Pradesh which was later acquired by JSW Energy. The power transmitted via this infrastructure is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh and Rajasthan.
Link to the news: https://transformers-magazine.com/tm-news/pgcil-to-acquire-jaypee-powergrid-for-48-m/