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.

In what could push consolidation of central public sector enterprises (CPSEs), the government will examine a proposal to merge NHPC with NTPC and combine Power Finance Corporation (PFC), Rural Electrification Corporation (REC) and Indian Renewable Energy Development Agency (IREDA) to create a huge power-financing entity.

To meet its FY19 capacity addition target of 5,000 MW, state-owned power producer NTPC is coming up with tenders to build for more than 2,900 MW of generation units in this quarter. A top NTPC official said while tenders for two 660 MW units at its Talcher super-critical power plant are almost ready, the company is also planning to begin the tendering process for two 660 MW units at its Singrauli station and two 800 MW units at the Lara power plant.

GE Power on Wednesday announced the completion of first turnkey full flow wet flue gas desulphurization (WFGD) unit at state power giant NTPC’s 500 MW Super Thermal Power project site in Vindhyachal, Madhya Pradesh.

The FGD installation at Vindhyachal is the first limestone-based WFGD commissioned in an NTPC power plant suitable for continuous operation at 500 MW unit for 100 per cent gas flow, a GE Power statement said.

Private power generating companies have objected to the sale of power by NTPC to Bangladesh, arguing that domestic coal supply via long-term agreements cannot be used to supply power to other countries.

In a letter to the secretary, Ministry of Power, the Association of Power Producers (APP), the representative body of private power companies, has said bids called by the Bangladesh Power Development Board (BPDB) specifically asked if the power supplied from India had the government’s consent to use domestic coal.

Independent power producers (IPPs) have asked the power ministry to clarify if fuel sourced from Coal India linkage or captive mines can be used to export power to neighbouring countries. In a letter, seen by FE, addressed to power secretary AK Bhalla, the association of power producers said since coal supply agreements and captive mines can only be used to supply to electricity distribution companies (discoms) under the existing policy framework, supplying power to Bangladesh using this coal would be “hampering domestic consumer interest”.

Two leading public sector lenders in the power business and a state-owned power-generating giant are likely to come together and bid for stressed assets that will go through resolution under the Insolvency and Bankruptcy Code (IBC).

Power Finance Corporation (PFC), which has a considerable debt exposure to the sector; Rural Electrification Corporation, which lends to development power schemes; and maharatna public sector undertaking (PSU) NTPC are thinking of forming a company that will buy out power projects.

In a push to increase the share of green energy in its installed capacity, NTPC has recently come up with tenders for 4,750 MW of renewable power projects. Of this, 2,000 MW are for wind power projects, while the remaining capacity would be solar based. The projects would significantly enhance the largest thermal power producer’s renewable energy portfolio, which now has 870 MW of solar and 50 MW of wind power projects.

NTPC has priced its 10-year dollar bonds at 170 basis points over the corresponding US Treasury yield to raise $400 million, investment bankers aware of the deal told FE. The initial price guidance on the bonds was 180 bps over the US Treasury, which got compressed by 10 basis points at the time of final pricing. The bonds are being issued in the Reg S format, which allows investors from Asia and Europe to participate.

New Delhi: India’s largest power utility NTPC Ltd on Tuesday joined hands with Indian Institute of Management-Ahmedabad (IIM-A) to establish a management school in Noida near Delhi that would offer specialized courses on energy management and work as a policy think tank.

“We have bigger plans...it will be a full-fledged B-School with a specialized focus on energy sector - both fossil and renewables,” said Saptarshi Roy, director (human resource) at NTPC.

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