NTPC's Strategic Acquisition: Powering Up with Sinnar Thermal Plant
NTPC, in collaboration with MAHAGENCO, has acquired Sinnar Thermal Power Ltd. through insolvency proceedings. The acquisition, achieved under the Insolvency and Bankruptcy Code, boosts NTPC's total installed capacity. The 1,350 MW coal-based plant enhances energy output without disclosed financial details.
- Country:
- India
In a strategic move, state-owned energy behemoth NTPC, along with MAHAGENCO, has finalized the acquisition of Sinnar Thermal Power Ltd. The acquisition was completed on February 24 under the Corporate Insolvency Resolution Process.
While the regulatory filing confirmed the deal, specifics regarding the transaction's value were not disclosed. The acquisition follows the National Company Law Tribunal’s approval of the Resolution Plan.
Located in Nashik, Maharashtra, Sinnar Thermal Power contributes a significant 1,350 MW to the NTPC portfolio, marking a substantial boost to the group’s capabilities, which now boast an installed capacity of 88,132 MW.
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