NTPC Bid Aims to Turn Around 1,800 MW Powerhouse

NTPC is actively pursuing the opportunity to bid for the 1,800-megawatt (MW) KSK Mahanadi thermal power project in Chhattisgarh. The lead lender for this project is the Power Finance Corporation (PFCL).

This bid aligns with the union power ministry's initiative, urging government entities to acquire assets from both private and state-owned companies. Currently undergoing a corporate insolvency resolution process (CIRP) at the National Company Law Tribunal (NCLT), the KSK Mahanadi project is among those recommended by the Ministry of Power in November 2023.

The Ministry's objective is to expedite the turnaround of these plants, enhancing power supply and meeting the growing demand. In an effort to encourage greater participation, generating companies (gencos) are being urged to engage in the CIRP of power assets that hold strategic and commercial significance for the respective states' capacity addition plans.

Among the listed assets in the advisory, KSK Mahanadi stands out. The project, operational at present, has power purchase agreements with three states—Andhra Pradesh, Tamil Nadu, and Uttar Pradesh. Additionally, it has received coal linkage under the SHAKTI scheme of the Centre but has resorted to coal imports due to a shortfall in supply.

News by Rahul Yelligetti