NTPC looks to buy renewables Miniratna SJVN

As part of the plan to become India’s biggest renewable energy producer, National Thermal Power Corporation (NTPC) is looking at buying stake in government’s Miniratna company – SJVN Ltd.

SJVN is a joint venture of government of India and government of Himachal Pradesh to generate clean electricity through hydro and wind power projects. The central government holds 64.46% stake in the company, followed by 25.51% held by the government of Himachal Pradesh and the balance 10.03% by public.

The Centre's stake is valued at above Rs 8,500 crore and the government has been contemplating to go ahead with its disinvestment plan, which includes SJVN. The move will help the finance ministry in reducing the country's fiscal deficit.

Sources shared that NTPC has moved a proposal with the ministry’s Department of Investment and Public Asset Management (Dipam) to pick up stake in the Shimla-based company.

When communications team of NTPC was approached for a formal statement, they declined to comment.

As per the details available, the present paid-up capital and authorised capital of SJVN are Rs 4,136.63 crore and Rs 7,000 crore, respectively. Its net worth is Rs 10,203.04 crore.

SJVN operates 1,500 megawatt (mw) Nathpa Jhakri Hydro Power Station in Himachal Pradesh, 412 mw Rampur Hydro Power Station in Himachal Pradesh and 47.6 mw Khirwire Wind Power Project in Maharashtra. At present, the company is implementing power projects in HP, Uttarakhand, Bihar, Gujarat, Rajasthan and Arunachal Pradesh apart from that in Nepal (900 mw) and Bhutan (600 mw).

NTPC has a plan to become India’s largest renewable energy company in the next decade. This takeover will help in achieving the long-term goal to generate more clean energy and emerge as the biggest player. At the moment, NTPC generates 97% of its total power through thermal projects, which it wants to reduce substantially.

At present, NTPC generates 800 mw from its only Koldam Hydro Power project in Himachal Pradesh. It has also installed solar power capacity of 545 mw.

NTPC Limited