NTPC Ltd, the country's largest power generator, today reported a 3% decline in net profit for the first quarter ended June on the back of lower generation and Plant Load Factor (PLF), a measure of power plant 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.
NTPC the state owned thermal power giant registered a profit after tax (PAT) of Rs 2,944 crore in Q4 of 2014-15 a decline of 5% in its net profit.The total income for the FY has increased from Rs 74,664.61 crore in the FY 2013-14 to Rs.
With the Centre's assurance to extend coal linkage to Katwa Thermal Power Plant, the NTPC, which is setting up the project, would be able to float tender for equipment soon, West Bengal Power Minister Manish Gupta said.
The Delhi High Court today asked Coal India Ltd (CIL) how it was offering coal from two Chhattisgarh mines to NTPC when it had cited production issues to cancel an e-auction of 49,000 metric tonnes (MT) of the mineral, mined from the same area, which was