NTPC, India’s largest power producer owned by the government, has acquired Jhabua Power (JPL) through Corporate Insolvency Resolution Process initiated by National Company Law Tribunal, Kolkata, (NCLT).
NTPC has offered 50 percent equity stake in JPL to the secured financial creditors while NTPC has retained all the management rights and control over the company.
Jhabua Power has an operational thermal power capacity of 1 x 600 MW located in Seoni, Madhya Pradesh. Post-acquisition of JPL, NTPC has become a 70+ GW company with total installed capacity of 70,064 MW.
NTPC aims to achieve installed capacity of 130 GW by 2032 from a diversified portfolio.