NTPC takes over Chhabra TPP

NTPC Limited has signed a non-binding MoU with Rajasthan RajyaVidyutUtpadan Nigam Limited and Rajasthan UrjaVikas Nigam Limited for taking over the Chhabra thermal power plant (TPP) at Baran in Rajasthan. As per the MoU, NTPC will take over four 250 MW operational units (entailing a cost of Rs 50 billion) and two 660 MW units of the coal-based power plant, which are under construction. In February 2016, the Rajasthan government had cleared a proposal for divestment of equity in the Chhabra TPP. Some of the other companies that showed interest in the deal were Adani Power Limited, AES India Private Limited, and a joint venture between Tata Power and ICICI Venture Funds.