Boosting the prospects of Uttar Pradesh Chief Minister Akhilesh Yadav’s promise of providing adequate power supply by 2016-17, NTPC Limited has said it will supply an additional 1,657 Megawatt (Mw) to the state in two years.

The Maharatna company is now supplying 4,150 Mw to the state from power generated by its thermal power plants in the state. Thus, NTPC would be ramping up power supply by almost 40 per cent to Uttar Pradesh. The additional allocation to the state will come from new NTPC units in the state totalling 3,648 Mw.

NTPC BHEL Power Projects Private Limited (NBPPL) today signed a memorandum of understanding (MoU) with APGenco for supply of spare parts for coal and ash handling plants and other equipment required by the Andhra Pradesh power utility’s thermal power plants.

It may be recalled that the joint venture company, NBPPL, was set up by the two public sector Maharatna companies to establish a power plant components manufacturing facility at Mannavaram in Chittoor district of Andhra Pradesh.

Shares of NTPC have slipped over 1% at Rs 143 on the NSE after the stock turned ex-dividend today.

The board of directors of the company has decided to pay interim dividend at the rate of 7.5% (Rs. 0.75 per share) on the face value of paid-up equity shares of Rs. 10 each for the financial year 2014-15. The date of payment / dispatch of dividend shall be February 13, 2015.

State-run power generator NTPC reported single-digit growth in earnings and a mraginal decline in revenues during the quarter ended December, extending its two-year run of muted earnings’ growth. The company reported a seven per cent year-on-year increase in its consolidated net profit in the quarter to Rs 3,074 crore against Rs 2,861 crore last year. The net sales were down 0.2 per cent y-o-y to Rs 18,739 crore. The NTPC has reported negative profit growth in three quarters.

New Delhi: India’s largest power producer NTPC Ltd has shortlisted two plants, one owned by Gautam Thapar’s Avantha Group and another by Adhunik Group, for potential acquisitions as it seeks to add capacity to meet future demand for electricity—a rare instance of a state-run entity purchasing domestic private sector assets.

The projects are Avantha Power and Infrastructure Ltd’s (APIL) 600 megawatt (MW) Jhabua Power Ltd (JPL) in Madhya Pradesh and Adhunik Thermal Energy Ltd’s 540MW Jamshedpur project in Jharkhand.

Benchmark indices are likely to open higher tracking the gains in select Asian peers. Some volatility may be expected later in the session as consumer inflation for the month December rose to 5% from 4.38% in the previous month, primarily due to a rise in food prices.

Traders would read the increase of 3.8% in industrial production for the month of November with some caution as it is over a negative base.

NTPC has cancelled an over Rs 2,000-crore deal with Russia’s state-owned Technoprom Export (TPE) for supply of main equipment (boilers) to its 1,980 MW super thermal power project (STTP) at Barh in Bihar’s Patna district, due to inordinate delays and breach of contract terms by TPE. It has also encashed bank guarantees of R800 crore given to TPE and the deed of joint undertaking (DJU) partners, following a decision taken at the PSU’s board meeting on December 23, according to sources privy to the matter.

State-owned power generation giant NTPC has emerged as the only bidder for the Cheyyur Ultra Mega Power Project (UMPP) in Tamil Nadu. The other seven potential bidders, all from the private sector, withdrew from the race citing regulatory issues in the bidding format.

The 4,000-Mw Cheyyur UMPP, worth Rs 25,000 crore, is to be fuelled with imported coal. Among the private players in the fray were Adani Power, CLP India, Jindal Steel & power, JSW Energy, Sterlite Energy and Tata Power. Of these, the only four that had bought the ‘request for proposal’ document also decided not to go further in the bidding process.

NTPC, the country’s largest state-owned thermal power producer, has issued a second expression of interest (EOI) for acquiring coal-based thermal power projects, to put to use its cash reserve of around Rs 5,000 crore.

The company has invited applications from state electricity boards/power generation companies, independent power producers, power plant developers and captive power producers. The earlier EOI saw an overwhelming response from the private sector. As many as 32 projects with a cumulative generation capacity of 55,000 Mw were lined up for sale to the ‘maharatna’ stature company. Of the shortlisted five projects, private consultancy KPMG is finalising the best buy for NTPC.

The delay in the commissioning of NTPC’s R10,000-crore-Barh-I power project in Bihar, where Russian company TPE is a contractor, will figure prominently in the talks between Prime Minister Narendra Modi and visiting Russian President Vladimir Putin on Thursday.

Given the upcoming Bihar polls, the Modi government wants see early commissioning of the project, which has been delayed by three years due to slow work by TPE, a power equipment supplier fully owned by the Russian government. Sources said TPE has told NTPC it will be able to complete the project in 2017 only. The Indian power generator is in favour of changing the contractor so that pending work could be fast-tracked.

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