The Power Grid Corporation of India (POWERGRID) has established a joint venture with Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL) to develop Rajasthan’s intrastate transmission system.

The joint venture, Rajasthan Power Grid Transmission Company (RPTCL), aims to address the state’s growing energy needs and ensure a more reliable and robust electricity distribution network.

RPTCL has been created with a fully subscribed and paid-up authorized share capital of ₹500,000 (~$6,083). POWERGRID will have 74% ownership, which includes the subscription of 37,000 shares at a face value of ₹10 (~$0.12) per share, while RVPN will hold the remaining 26%.

Last December, Rajasthan unveiled its Integrated Clean Energy Policy, 2024, with an ambitious target of achieving 125,000 MW of renewable energy capacity by the financial year 2030. The plan includes installing a capacity of 90,000 MW of solar power, 25,000 MW of wind and hybrid energy, and 10,000 MW of hydro, pumped storage, and battery energy storage systems.

Last August, Rajasthan became the first Indian state to achieve more than 50% solar in its total installed power capacity, according to Mercom’s India Solar Project Tracker. The state has approximately 23 GW of solar capacity, representing 51% of its total installed power capacity. Solar energy also dominates Rajasthan’s renewable portfolio, accounting for 76% of its total installed renewable energy capacity.

In November 2024, POWERGRID and Dineshchandra R. Agarwal Infracon won Parts A and B of REC Power Development and Consultancy’s transmission project to evacuate 3.5 GW of power from Rajasthan’s renewable energy zone.

In the same month, POWERGRID invited bids to establish a solar-powered green hydrogen plant and fuel cell-based microgrid system at the 400/220 kV Neemrana substation in Rajasthan.

Recently, POWERGRID approved the issuance of bonds worth up to ₹42.5 billion (~$499.62 million) on a private placement basis. The 80th issue of POWERGRID bonds (2024–25) comes with a base size of ₹10 billion (~$117.56 million) and a greenshoe option of ₹32.5 billion (~$382.07 million).