Efforts are on to ensure equity participation in major hydroelectric projects in order to derive maximum benefits for the Himachal Pradesh. This was stated by Chief Minister Virbhadra Singh while inaugurating the four day-long Lavi international fair at Rampur. "The precedent of equity participation was started with the signing of an MoU for 1500-MW Nathpa Jhakri project in which the state had agreed for 25 per cent equity,' he said. Mr Virbhadra Singh said the Centre had agreed in principle to execute more such projects in joint venture where the equity participation was negotiable up to the limit of 49 per cent of the project cost.