+
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
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code