NHPC inks JV deal, sells stake in NHPTL to Power Grid Corp
NHPC announced that it would be divesting its stake in National High Power Test Laboratory (NHPTL) through the signing of a supplementary joint venture agreement (SJVA) with its JV partners. The partners include NTPC, PowerGrid, Damodar Valley Corporation, Central Power Research Institute, and NHPTL itself.
According to a stock exchange filing, NHPC informed that it had signed a Supplementary JV Agreement with JV Partners of National High Power Test Laboratory (NHPTL), namely NTPC, POWERGRID, DVC, CPRI, and NHPTL, for the sale of a partial stake in NHPTL (an unlisted company) on 23.04.2024.
The agreement, which was finalized on April 23, 2024, signifies the sale of a partial stake in NHPTL, an unlisted company, with the expected completion set during the fiscal year 2024-2025.
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