State-owned power giant NTPC has announced its plans to set up two more projects in Madhya Pradesh, NTPC Chairman & Managing Director Arup Roy Choudhury announced on Wednesday.
Mr. Choudhury made the announcement at the foundation stone laying ceremony of Gadarwara power plant. He said two more power plants would be set up at Khargone and Barethi in the state.
He also assured that NTPC would stick to best environmental operational standards while developing the Gadarwara power project.
The Supreme Court of India has directed state-run power generation company National Thermal Power Corporation (NTPC) not to discontinue supply of electricity to private-sector power distribution companies BSES Rajdhand and BSES Yamuna in Delhi until next hearing on March 26, 2014.
The bench consisting of Justices S S Nijjar and A K Sikri said Delhi should not be made to suffer due to the payment dispute between NTPC and BSES. The BSES' subsidiaries supply electricity to nearly 70 per cent of the national capital.
New Delhi, Dec 2 : State-run National Thermal Power Corp. (NTPC) said its bond issue to raise up to Rs. 1,750 crore will open Tuesday.
"The issue will open on December 3, 2013, and is scheduled to close on December 16, 2013," NTPC chairman Arup Roy Choudhury told media persons here.
This is the biggest national power producer's first bond issue in over 20 years. The company will issue tax-free secured redeemable non-convertible bonds.
Sipat (Chhattisgarh), Sep 19 : Prime Minister Manmohan Singh Thursday commissioned the NTPC’s 2,980 MW Super Thermal Power Station to the nation at a grand function held at Sipat, in Chhattisgarh’s Bilaspur district.
He also laid the foundation stone of 1,600 MW stage-I of NTPC’s Lara Super Thermal Power Project through remote control. The project to come up at Lara village in the state's coal-rich Raigarh district will have two 800 MW units in stage I and an ultimate installed capacity of 4,000 MW.
New Delhi, Sep 17 : India's largest power generator state-run NTPC Tuesday said it has planned capital expenditure of over Rs. 20,000 crore during the current fiscal till March 31, 2014.
"We had a capex of Rs. 19,926 crore during the previous financial year (2012-13) and plan to raise it to Rs. 20,200 crore this fiscal," Arup Roy Choudhury, chairman and managing director of NTPC, said addressing shareholders at the company's Annual General Meeting here.
NTPC added 4,170 MW of capacity in the last fiscal to take its installed power generation capacity to over 41,000 MW.
New Delhi, Aug 8 : State-run generator NTPC will build a 500 MW thermal power plant in Sri Lanka in association with Ceylon Electricity Board (CEB), Power Minister Jyotiraditya Scindia said Thursday.
In a written reply to parliament, the minister said a joint venture company, Trincomalee Power Co Ltd (TPCL), had been created for the project with 50:50 equity participation from NTPC and CEB.
The Sri Lankan Attorney General’s office recently approved NTPC's first overseas project proposed to be constructed at Sampur in the eastern district of Trincomalee.
New Delhi, Aug 8 : NTPC is likely to start supplying 250 MW power to Bangladesh from next month, giving a boost to India’s power diplomacy in South Asia.
"NTPC Vidyut Vyapar Nigam (NVVN), a subsidiary of NTPC, is expected to start supplying power to Bangladesh from September 2013," the state-run power producer said.
NVVN is the nodal agency for supply of power to Bangladesh.
New Delhi, May 10 : State-run power generator NTPC posted a 69 percent year-on-year rise in profit for the fourth quarter ended March to Rs. 4,381 crore.
The company's sales for the quarter grew marginally to Rs. 16,461 crore, up a little over one percent year-on-year.
The company posted a net profit of Rs. 12,619 crore for the year ended March 31, 2013, as compared to Rs. 9,223 crore for the year ended March 31, 2012.
Total income increased from Rs. 64,841 crore for the year ended March 31, 2012, to Rs. 68,775 crore for the year ended March 31, 2013.
Chennai, April 9 : Two of India's power sector majors -- equipment-maker BHEL and power-generator NTPC -- are together to set up a 100 MW power plant based on Integrated Gasification Combined Cycle (IGCC) technology.
"Talks between the two companies have progressed. Discussions have been held on parameters and the plant design is already available with us," A. V. Krishnan, executive director, BHEL (Boiler Division) told IANS over the phone from Tiruchirapalli.
According to Krishnan, the investment for the project will be around Rs. 700 crore.
Through the NTPC Ltd issue on Thursday, the government mobilized around Rs 11,400 crore (nearly $2.1bn) by selling 78.326 crore shares at an average price of Rs 145.91 apiece.
The floor price for the issue, which took place through the offer for sale (OFS) route, was set at Rs 145 a share. The issue was subscribed 1.7 times, generating a demand worth around Rs 19,400 crore.
Following the share sale, the government's stake in the public sector power giant slipped from 84.5 per cent to 75 per cent.
Stake sale in power producer NTPC Ltd. on Thursday is expected to raise around Rs 12,000 crore ($2.25bn), which will make it the government's largest share sale this financial year, according to disinvestment secretary Ravi Mathur.
An empowered group of ministers (EGoM) led by union finance minister P Chidambaram on Tuesday finalized the timeline and pricing of the issue.
After the EGoM meeting, the disinvestment secretary said, "The NTPC disinvestment is scheduled for February 7 and is expected to raise Rs 12,000 crore."
The government has decided to allot three of the five de-allocated coal blocks to state-owned power giant NTPC, apparently to boost the company's value ahead of disinvestment of a part of the government's stake.
In June 2011, the government had de-allocated five of NTPC's eight coal block as a punishment for its slow progress in development of the coal blocks.
But, the coal ministry yesterday announced that NTPC would be re-allocated three of the five de-allocated coal blocks, viz. Chatti-Bariatu, Chatti-Bariatu (South) and Kerandari coal blocks.
State run, NTPC has indicated that it might be forced to downsize its Katwa project in West Bengal by about half its size so as to be able to construct the facility within the available
550 acres of land that has been allotted to the company by the state government.
The Union Cabinet is widely expected to give a green signal to 9.5 per cent stake sale in state-run NTPC this Thursday.
In case the Cabinet approves the proposal, it will play a crucial role in rejuvenating the government's delayed stake sales initiative, which aims to garner Rs 30,000 crore for the exchequer during the current financial year.
The government has declared that central public sector units (PSUs) will either have to invest the surplus funds they have or just lose it.
Currently, as many as twenty-five PSUs, including ONGC, GAIL, NTPC, BHEL and SAIL, have surplus cash worth Rs around 2.5 lakh crore. But PSUs are reluctant to make investments as they perceive numerous hurdles to investment plus they don't see the current economic situation very propitious or conducive.
Indian Prime Minister Manmohan Singh has directed central government officials to take steps to address concerns expressed by public sector companies in implementing their plans.
Government-owned power producer NTPC has apparently decided to put an end to its long standoff with Coal India Ltd. (CIL) by agreeing to sign the new Fuel Supply Agreement (FSA).
At the request of the union power ministry, CIL has modified a number of clauses, including penalty clauses, in the new FSA.
NTPC agreed to sign the FSA for new units with an 80 per cent trigger point, while FSAs for units prior to January 2010 were penned down with a 90 per cent trigger point.
India's biggest power producer, NTPC has said that it is planning to spend as much as $15 billion during the next ten years to acquire coal supplies from overseas locations as the price of the fossil fuel fell to its lowest level since more than a year and half.
The company might enter into 10-year contracts to import as much as 150 million metric tons of coal, according to Chairman Arup Roy Choudhury. This amounts to 15 billion, assuming a rate of $100 a ton of coal from international markets.
The union coal ministry has urged Coal India Ltd (CIL) to consider a request by NTPC for singing the fuel supply agreement with revised minimum fuel supply level for all of the new units of its existing plants.
Despite a 19% growth in fuel costs, NTPC has registered a growth of 5% in its consolidated net profit, which remained at Rs 9,814 crore in the fiscal year ended March 2012 as compared to Rs 9,348 crore during the previous financial year.
On a standalone basis, the state-owned generation utility’s net profit declined 6.7% to Rs 2,593.44 crore in January-March 2012 period as compared to Rs 2,781 crore in the year-ago period.
Fuel prices surged to Rs 43,302 crore during 2011-12 as against Rs 36,414 crore in the year ended March 2011.