New Delhi: NTPC Troubled KSK to acquire Mahanadi Electricity house In ChhattisgarhOne of India’s largest single-site greenfield projects with a proposed 3,600 MW capacity, making it the state-run utility’s second project. acquisition of a stressed asset.
People in the know said the value of investment in the project is Rs 5,000 crore, but declined to indicate NTPC’s acquisition price. This project is located in Janjgir-Champa district of Chhattisgarh.
KSK Mahanadi will come under the corporate insolvency resolution process in April 2022 after defaulting on loans worth Rs 21,760 crore in March 2018. Adani Power had shown interest in acquiring the project in 2019, but UP, the project’s main customer, had reduced the tariff.
NTPC had in September 2022 acquired Jhabua Power’s 600 MW Seoni plant in Madhya Pradesh for Rs 925 crore as part of its plan to acquire stranded assets to meet the long-term capacity addition target of 7,000 GW by 2022.
KSK Mahanadi was among the 40 GW of stressed and non-performing capacity identified in March 2018 by a special parliamentary committee. This included 34 coal-based power projects with an estimated debt of Rs 1.7 lakh crore.
KSK Mahanadi was launched with a capacity of 1,800 megawatts (MW), which was doubled as additional coal supplies became available. The contract for the equipment is with China’s Shandong Electric.
But soon after the first two units of 600 MW were commissioned in 2013 and 2014, the project faced financial crisis and availability, with the Supreme Court canceling all coal block allocations in the Colgate case. company yes
This left the remaining four units, which were to be commissioned in 2017-2018, stranded. The commissioning date for Units-III and IV was extended from July 2016 to 2018–2020, while the completion of Units-V and VI was termed “indefinite”.
The project had contracted for 7 million tonnes of coal per annum from GMDC’s Morga-II mine for the first phase and the same quantity of coal from GIDC’s Gare Pelma-III mine for the second phase. It is also associated with Coal India Limited. State-run transmission utility PowerGrid has a bulk power purchase agreement.
India is expected to grow its annual power demand by more than 7% over the five years ending March 2027, the Central Electricity Authority (CEA), an advisory body to the power ministry, has said. This is almost double the observed growth rate of 4%. Over the course of five years till March 2022.
People in the know said the value of investment in the project is Rs 5,000 crore, but declined to indicate NTPC’s acquisition price. This project is located in Janjgir-Champa district of Chhattisgarh.
KSK Mahanadi will come under the corporate insolvency resolution process in April 2022 after defaulting on loans worth Rs 21,760 crore in March 2018. Adani Power had shown interest in acquiring the project in 2019, but UP, the project’s main customer, had reduced the tariff.
NTPC had in September 2022 acquired Jhabua Power’s 600 MW Seoni plant in Madhya Pradesh for Rs 925 crore as part of its plan to acquire stranded assets to meet the long-term capacity addition target of 7,000 GW by 2022.
KSK Mahanadi was among the 40 GW of stressed and non-performing capacity identified in March 2018 by a special parliamentary committee. This included 34 coal-based power projects with an estimated debt of Rs 1.7 lakh crore.
KSK Mahanadi was launched with a capacity of 1,800 megawatts (MW), which was doubled as additional coal supplies became available. The contract for the equipment is with China’s Shandong Electric.
But soon after the first two units of 600 MW were commissioned in 2013 and 2014, the project faced financial crisis and availability, with the Supreme Court canceling all coal block allocations in the Colgate case. company yes
This left the remaining four units, which were to be commissioned in 2017-2018, stranded. The commissioning date for Units-III and IV was extended from July 2016 to 2018–2020, while the completion of Units-V and VI was termed “indefinite”.
The project had contracted for 7 million tonnes of coal per annum from GMDC’s Morga-II mine for the first phase and the same quantity of coal from GIDC’s Gare Pelma-III mine for the second phase. It is also associated with Coal India Limited. State-run transmission utility PowerGrid has a bulk power purchase agreement.
India is expected to grow its annual power demand by more than 7% over the five years ending March 2027, the Central Electricity Authority (CEA), an advisory body to the power ministry, has said. This is almost double the observed growth rate of 4%. Over the course of five years till March 2022.
