NTPC to invest Rs 17,000 cr on two projects

The country's largest power producer NTPC today said it would invest over Rs 17,000 crore for implementing two thermal power projects in Maharashtra.

The Board of Directors of the company have accorded investment approval of Rs 17,317 crore for implementing Mouda and Solapur thermal power projects in Maharashtra, the company said in a filing to BSE.

An investment not exceeding Rs 7,921.47 crore has been approved for Mouda (1,320 MW) super thermal power project and Rs 9,395.18 crore for the Solapur (1,320 MW).

Meanwhile, the company, in order to part finance its capex, has tied up a loan of $100 million with the Japanese Mizuho Corporate Bank.

The loan will be spent on capital expenditure for the company's ongoing as well as new projects. It would also be utilised for financing coal mining projects and renovation and modernisation of power stations.

The company plans to invest Rs 24,000 crore on setting up a thermal plant of 4,000 MW at Vishakhapatnam, in Andhra Pradesh. The state government will facilitate land availability and coal linkage for the project.

NTPC operates plants with over 36,000 MW of capacity from all sources of energy.

Shares of the company were trading at Rs 162.70, up 0.03% on the BSE.