Power Grid to invest in national high power testing lab
ECONOMY & POLICY

Power Grid to invest in national high power testing lab

The State-owned Power Grid Corporation announced that it had signed an agreement to inject funds and acquire a 50 percent stake in the troubled National High Power Test Laboratory (NHPTL). It was disclosed in a regulatory filing that a supplementary joint venture agreement regarding this matter had been signed on April 23, 2024, by NHPTL's shareholders.

NHPTL, collaboration among NTPC, NHPC, POWERGRID, DVC (Damodar Valley Corporation), and CPRI (Central Power Research Institute), has been grappling with financial difficulties.

The injection of funds is contingent upon the approval of the management of the joint venture parties, namely NTPC, NHPC, DVC, and CPRI.

The filing also mentioned that during a meeting convened on September 15, 2022, a revival plan was formulated in collaboration with the Ministry of Power. The plan aimed to address NHPTL's financial crisis and ensure the long-term viability of the country's crucial high-voltage transformer testing facility.

As part of the revival plan, there will be equity transactions among the shareholders. Consequently, POWERGRID's equity holding in NHPTL will increase to 50 percent, while the remaining 50 percent will be equally divided among the other four joint venture partners, with each holding 12.5 percent.

The State-owned Power Grid Corporation announced that it had signed an agreement to inject funds and acquire a 50 percent stake in the troubled National High Power Test Laboratory (NHPTL). It was disclosed in a regulatory filing that a supplementary joint venture agreement regarding this matter had been signed on April 23, 2024, by NHPTL's shareholders. NHPTL, collaboration among NTPC, NHPC, POWERGRID, DVC (Damodar Valley Corporation), and CPRI (Central Power Research Institute), has been grappling with financial difficulties. The injection of funds is contingent upon the approval of the management of the joint venture parties, namely NTPC, NHPC, DVC, and CPRI. The filing also mentioned that during a meeting convened on September 15, 2022, a revival plan was formulated in collaboration with the Ministry of Power. The plan aimed to address NHPTL's financial crisis and ensure the long-term viability of the country's crucial high-voltage transformer testing facility. As part of the revival plan, there will be equity transactions among the shareholders. Consequently, POWERGRID's equity holding in NHPTL will increase to 50 percent, while the remaining 50 percent will be equally divided among the other four joint venture partners, with each holding 12.5 percent.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code