USNMix Report: NTPC watch on
the power projects that have gone out.
The company is now focusing on only those projects which will be in the bankruptcy and lending process in the NCLT.
Earlier, NTPC's plan was to
acquire power-related power projects in bank debt. For this, he was trying to
acquire talks and negotiations in the NCLT under bidding process. The
government was also in favor of resolving the issue of bank loan related to
these projects. A close source said, "NTPC has decided to slow down its
plans of expansion by acquiring the crisis-related power projects. The company
is now focusing on only those projects which will be in the bankruptcy and
lending process in the NCLT. From this, NTPC will be able to acquire
concessions on cheap prices. "The NTPC spokesperson did not respond when
asked about this.
The company is now focusing on only those projects which will be in the bankruptcy and lending process in the NCLT.
The public sector company
NTPC's eyesight is on buying power projects struggling. NTPC has decided that
it will purchase the same power projects which are going through the process of
insolvency and loan disbursement under the National Company Law Tribunal
(NCLT). NTPC estimates that the deals that have been made so far under NCLT
have been much better. In the NCLT, the deals of projects going through
bankruptcy and loan redressal process have become cheaper by 70% or more by
secured lenders. Secured lenders have the right to take a decision on the
matters released in the NCLT. However, unsafe lenders have no such right.
NTPC plans to increase its
power generation capacity to 6,000 MW For this, he had planned to acquire the
already existing power projects. The company believes that it takes time and a
lot of resources to set up a new plant. Nonetheless, nothing has been done so
far for achieving this goal.
Cabinet Secretary P.K. Sinha
According to a report released in November 2018 of a high-level committee
headed by Sinha, there are 34 power projects of 40,130 MW which are under
pressure. Out of these projects, 24,405 MW capacity has been prepared and
15,725 MW capacity is under construction. It has been said in the report that
the problem of eight projects of 8,820 MW capacity has been solved. The
recommendations of the committee are being evaluated by the Finance Minister,
headed by Finance Minister Arun Jaitley.
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