India's largest thermal power generator NTPC Limited announced equity acquisition of two state-owned power plants in Bihar for an estimated Rs 21 billion. NTPC took 50 per cent equity stake in Nabinagar Power Generating Company Pvt. Ltd. (NPGC) and 27.36 per cent Kanti Bijlee Utpadan Nigam Limited (KBUNL) from Bihar State Power Generation Company – which was operating it earlier.

Shares of UltraTech Cement, NTPC, Bharti Infrastructure, Tata Power Company, Vedanta, India Cements and Shree Cement were among 19 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE.

CG Power & Industries, Cummins India, Inox Wind, JK Lakshmi Cement, Kirloskar Oil Engines, Mangalore Refinery Petrochemicals (MRPL), Manpasand Beverages, Motilal Oswal Financial Services and NHPC too hit their respective 52-week lows today.

NTPC, India’s largest thermal power producer, is planning a power despatch schedule wherein cheaper power will be loaded first.

The move aims to reduce the cost of power for state-owned power distribution companies (discoms) that are facing financial difficulties.

The government is weighing an option to rope in the National Investment and Infrastructure Fund (NIIF), apart from NTPC, to take over some stressed power assets, a senior official told FE. A detailed proposal is expected to be discussed at a meeting that will be soon convened by the finance ministry to resolve the issue of massive bad loans in power — estimated at Rs 1.77 lakh crore — following last week’s order by the Allahabad High Court.

State-owned power generator NTPC’s profit in FY18 slipped by 1.9% from last year to Rs 10,501.5 crore, notwithstanding a 7% rise in revenue to Rs 88,083 crore in the same period, as its finance costs in the fiscal went up by 21% to Rs 4,434.6 crore. The company was also affected by under-recovery of about Rs 800 crore on account of fuel shortage at several of its generating stations, underscoring the ongoing issue of coal scarcity at power plants across the country.

NTPC Dadri on Sunday synchronised the 490 MW unit, bringing an additional 300 MW to the power grid.

The Plant was closed on technical ground on May 25. Besides, due to coal supply shortage the plant could produce only 60 per cent of the installed capacity.

New Delhi: State-run power giant NTPC has deferred auction of 2,000 MW solar capacities to the first week of June as developers have sought resolution of inter-state connectivity issue before going ahead with the sale, people familiar with the matter said.

Besides, the Solar Energy Corporation of India (SECI) is likely to extend the bid submission for 2,000 MW solar capacities scheduled for the first week of June, industry people with knowledge of the matter said.

NTPC Ltd, the largest power producer, is looking to minimise its stranded asset risk while accelerating the integration of renewable energy generation capacity. The strategy is a win-win situation for NTPC shareholders, the government, electricity consumers, distribution companies (discoms), and the environment, says a report by US-based Institute for Energy Economics & Financial Analysis (IEEFA).

NTPC signed a memorandum of understanding (MoU) to add three more power plants, with a cumulative capacity of 3,470 MW, to its portfolio. The deal would raise NTPC’s independent coal-based power generation capacity to 43,825 MW. The financial details of the transaction were not disclosed.

Even as over 40,000 MW of private power plants are stressed for want of power purchase agreements (PPA), state-run NTPC is busy adding new capacities at high capital costs. This is thanks to a strong legacy of PPAs executed before 2011 under the erstwhile cost-plus system.

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