NTPC Signs MoU To Acquire Power Stations In Bihar
2018-05-15 Merger and Acquisitions Power Eastern India
NTPC Limited has signed a MoU with GOB and Bihar power utilities on May 15, 2018 for acquisition of 720 MW Barauni Thermal Power Station (BTPS), acquisition of 27.36% equity of BSPGCL in Kanti Bijlee Utpadan Nigam Limited (KBUN) which owns 610 MW Muzaffarpur Thermal Power Station and acquisition of 50% equity of BSPGCL in Nabinagar Power Generating Company Pvt. Limited (NPGC) which is developing 1980 MW Nabinagar Super Thermal Power Project in district Aurangabad, Bihar. Aforesaid transactions are envisaged to be completed through notification of a Statutory Transfer Scheme by GoM. of Bihar. Post-transaction, BTPS will become part of NTPC portfolio and KBUN and NPGC will become wholly owned subsidiaries of NTPC.