Burdened with steep tariffs on power from NTPC plants located outside Odisha, the state government has appealed to the Union Power Ministry to swap it with power sourced from the central power utility's plants located inside the state. The power swapping could help the state save up to Rs 5 billion each year for the next 25 years.

Miffed with the delay in approval for NTPC's 1,320 Mw power project in Odisha, Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Tuesday urged Odisha Chief Minister Naveen Patnaik to intervene for its quick approval.

Power major NTPC proposed to set up an additional state-of-the-art, latest environmental norms-compliant power station of 1,320 Mw at the existing plant in Talcher.

Writing for Mint last year, Prashant Jain, executive director and chief investment officer of HDFC Mutual Fund, said it was not easy to remain invested in equities for long periods. “Those who can simply sit still know its immense benefits,” wrote Jain. NTPC Ltd seems to be practising this precept, albeit in a slightly different way.

India’s largest electricity generator has remained silent on the opportunities in stressed power plants, despite having sound financials and a balance sheet to stomach acquisitions.

NTPC may not go ahead with the construction of the upcoming 1,980-MW Nabinagar-2 and 1,600-MW Katwa thermal power generating units in Bihar and West Bengal, respectively, until it receives “re-confirmation” from the beneficiary states if they still require power from these projects.

Power purchase agreements (PPAs) for these projects were signed with West Bengal, Bihar, Odisha, Sikkim and Jharkhand in 2010.

New Delhi: State-run NTPC Ltd, India’s largest power generator, said on Saturday that fiscal first-quarter net profit dipped 1.14% from a year earlier period, even as it benefited from higher electricity output and improved efficiency.

The utility registered a net profit of 2,588.14 crore for the quarter ended June as compared to 2,618.17 crore posted for the corresponding period last fiscal on account of other income such as interest payment received.

The government is planning to sell up to 10 per cent stake each in real estate firms HUDCO and NBCC as also 3 per cent in NTPC through an offer for sale (OFS), which could fetch about Rs 59 billion to the exchequer.

The finance ministry will soon float Request for Proposals (RFP) to appoint merchant bankers for managing the stake sale of HUDCO and NBCC, a source said.

India’s ministries of finance and power are discussing a plan to sell government’s stake in hydro-power producer NHPC Ltd. to its state-run peer NTPC Ltd., the nation’s biggest electricity generator by capacity, according to people familiar with the matter.

The government’s 73.67 percent stake in NHPC is worth about 182 billion rupees ($2.6 billion) as per current prices, according to Bloomberg calculations.

NTPC, India's largest electricity generating company, on Friday said it has signed a term loan agreement with HDFC Bank for availing a loan of Rs 15 billion.

The 15-year loan will bear an interest rate linked to 3-months MCLR of the bank, the company said in a statement.

NTPC, currently high on solar energy plans, has shelved the plan to sell its Kayamkulam facility (Rajiv Gandhi Combined Cycle Power Station – RGCCPS) to the Kerala government. It was the Union power ministry that had first mooted sale of RGCCPS-Kayamkulam to the Kerala government. In fact, Union power minister Piyush Goyal and Kerala power minister MM Mani had even arrived at an in-principle understanding on the sale before price became a contentious issue.

Faced with the prospect of a glut in thermal power supplies from 2020 onwards, the Odisha government is keen to renege Power Purchase Agreements (PPAs) signed with NTPC projects which is due to start commercial operations.

Accordingly, the state government has requested the Centre not to allocate power from the NTPC’s stations coming up at Katwa (West Bengal), Pirpanti and Nabinagar-II (both in Bihar) and cancel the PPAs executed between the Maharatna Power Producer and Gridco, the state-owned bulk power trader.

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