Power Grid Corporation of India Limited (Powergrid) has signed a supplementary joint venture agreement (JVA) to provide financial support and acquire a 50 per cent stake in National High Power Test Laboratory Private Limited (NHPTL).
NHPTL is a JV of Powergrid, NTPC Limited, NHPC Limited, Damodar Vally Corporation and Central Power Research Institute. The revival plan comprises equity transactions between shareholders with an outcome of revised equity holding of Powergrid in NHPTL as 50 per cent and the remaining 50 per cent will be held equally by the other four partners. The objective of the JV is to set up an on-line high power short circuit test facility, which will serve as a professionally managed standalone testing facility in India. Further, it will be equipped to provide a full range of short circuit testing for the electrical equipment manufacturing industry, and power supply utilities in compliance with Indian and International standards.