NTPC, PGCIL form JV to enter power distribution business

NTPC and PowerGrid Corporation of India Limited have signed an agreement to set up the National Electricity Distribution Company Limited (NEDCL).

NEDCL will be a joint venture of the two on 50:50 equity basis. “The main aim is to undertake business for distribution of electricity in distribution circles of India and related activities,” a PGCIL statement said.

The agreement for setting up the JV was signed on Friday. It is in the preliminary stages, a power ministry representative said.