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NTPC to take over Kanti, Nabinagar JV plants for Rs 30 bn in Bihar

Apart from Bihar, the company is also eyeing stakes in other stressed assets and plants owned by the state utilities

Press Trust of India  |  New Delhi 

NTPC

State-run power giant is likely to finalise the acquisition of entire stake of (BSPHC) in its two JV plants at Nabinagar and Kanti for around Rs 30 billion in a month.

"The negotiation is in advance stages. will acquire entire stake of BSPHC, erstwhile (BSEB), in Kanti and Nabinagar plants for around Rs 30 billion in a month," a source said.

Earlier the Bihar political leadership has spoken many times about their intend to sell the stake in the Nabinagar and Kanti power plants to

Kanti Bijlee Utpadan Nigam, (formerly known as Vaishali Power Generating Company Ltd) was incorporated on September 6, 2006, with NTPC contributing 51 per cent of equity.

The has the remaining equity in the joint venture which was renamed as Kanti Bijlee Utpadan Nigam on April 10, 2008. Present equity holding of NTPC is 64.57 per cent & is 35.43 per cent. It has 610 MW installed power generation capacity.

Similarly, Nabinagar project known as is also a joint venture of the NTPC and The equity participation of the NTPC and BSEB is 50:50. The plant has 500 MW installed generation capacity and another 500 MW is under construction.

Apart from Bihar, the company is also eyeing stakes in other stressed assets and plants owned by the state utilities.

The company is also looking at power generation units owned by Rajasthan utilities, the source said, adding that a deal could materialise in the next financial year.

First Published: Sun, March 11 2018. 15:44 IST
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