Coal news and updates

NTPC eyeing seven coal-based plants

NTPC is working on inorganic growth. It is evaluating seven coal-based power plants in the country for acquisition. The combined capacity of the plants will be close to 2,000 MW, Chairman and Managing Director Arup Roy Chowdhury said.

After inaugurating a 10 MW solar power plant at Ramagundam near here on Wednesday, he said, “These firms have some problems or the other. For different reasons, the promoters of these plants do not want to operate them anymore. We are keen on the ones that have power purchase agreements and coal linkage in place.”

All the acquisitions would be done through balance sheet based funding with 70 per cent debt and the remaining equity, Mr. Chowdhury said. Some of the acquisitions could be closed in the current fiscal, he added. The company would add over 12,000 MW to its existing capacity of 42,500 MW during the XII Plan, he said.

Source: The Hindu