Bihar today handed over its three thermal power units to the NTPC, hoping to save more than Rs 800 crore every year.
MoU was exchanged between National Thermal Power Corporations Director (Commercial) A K Gupta and R Lakshmanan, Managing Director of South Bihar Power Distribution Company Limited (SBPDCL) and the Bihar State Power Generation Company Limited (BSPGCL), an official release said.
The MoU, which follows a cabinet decision taken to the effect on April 17 last, is expected to result in annual savings of Rs 875.06 crore for the state, the release said.
Speaking on the occasion, the Chief Minister said handing over of the three power units to the NTPC would facilitate improved power generation and availability of electricity to consumers at lower rates.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)