Power Grid Corporation of India Limited (PGCIL) and Rajasthan Rajya Vidyut Prasaran Nigam Limted (RVPNL) have entered into a shareholders Agreement to form a Joint Venture Company (JVC) for development of Intra-State Transmission System in the State of Rajasthan with an equity participation of 74% by PGCIL and 26% by RVPNL.