NHPC signs agreement for implementation of approved resolution plan of JPCL acquisition

NHPC Limited has signed a definitive agreement for implementation of the approved resolution plan for acquisition of Jal Power Corporation Limited (JPCL). …

JPCL is implementing the 120 MW Rangit Stage-IV hydro project in Sikkim. The National Company Law Tribunal’s (NCLT) Hyderabad bench had approved NHPC’s resolution plan for taking over JPCL in December 2020. The total cost of the project is estimated as Rs 9.43 billion. JPCL is the second company after Lanco Teesta Hydro Power Limited (LTHPL) to be acquired through NCLT process by NHPC.

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