India’s two leading public sector utilities – NTPC and Power Grid Corporation of India – have formed a joint venture to set up a National Electricity Distribution Company Ltd (NEDCL).
A statement issued by PGCIL on June 24, 2019 states that it “has entered into a Joint Venture Agreement with NTPC Ltd to incorporate a Joint Venture Company (JVC) on 50:50 equity participation basis, with an objective to undertake the business for distribution of electricity in various States and Union Territories of India and other related activities. The said JVC shall be incorporated only after obtaining necessary approvals of the government”.
