Thermal power giant NTPC will acquire the five-decade-old Sarni Thermal Power Station of Madhya Pradesh, causing speculation among employees of the target company. The NTPC sources have said due-diligence is underway.
The government is considering scrapping the banker appointment process for stake sales in five state-run companies including National Mineral Development Corporation, India's largest iron ore producer, people familiar with the matter said.
NTPC is aggressively adding capacity and is chasing 10,000 Mw through acquisition of stressed assets. NTPC Chairman and Managing Director Arup Roy Choudhury explains the company’s strategy in an interview with Sanjay Jog.
NTPC, the country’s largest power generator, reported a three per cent decline in net profit for the quarter ended June, with less of generation and plant load factor (PLF, a measure of unit efficiency and output.
Despite rise in generation capacity, there is weak demand for power, especially from distribution companies (discoms) due to deteriorating finances. Analysts say growing discom losses will exacerbate the over-capacity situation in the power market.
In a major hurdle to the National Democratic Alliance government's poll promise of 24x7 power for all, over 80 major projects - both generation and transmission - are facing delays. These projects have a stuck capital of Rs 3.75 lakh crore.
Even as it plans to sell stake in 10 PSUs, including NTPC, Oil India and NALCO, within three years, the government has informed merchant bankers that the completion of the entire process would actually depend on market conditions.
State-run NTPC today said, it has entered into an agreement with Jammu and Kashmir State Power Development Corporation Ltd (JKSPDCL) to form a joint venture company for mining at Kudanali-Luburi coal block in Odisha.
State-owned NTPC today said Talcher in Odisha will become a power hub with the PSU planning around 3,000 MW of capacity addition there."Recently I was in Odisha and the Chief Minister wanted that we should do expansion in Talcher.
Power generating company NTPC has served notices to West Bengal, Bihar and Jharkhand governments saying it will be forced to shut Farraka thermal power plant if law and order situation is not maintained at the facility.