NHPC To Acquire PTC India's 2% Stake In Chenab Valley Power Projects
NHPC has received the go-ahead to acquire the entire 2 per cent stake of PTC India in Chenab Valley Power Projects. Chenab Valley Power Projects is a joint venture company;Â NHPC holds 49 per cent in Chenab Valley Power Projects, whereas JKSPDC holds 49 per cent and PTC holds 2 per cent. Post the stake acquisition, NHPC's share in Chenab Valley Power Projects will increase to 51 per cent and it will become a majority stakeholder.
"Ministry of Power vide its letter dated May 12, 2021 has conveyed approval of competent authority for taking over of 2 per cent equity of PTC India Limited (PTC) in Chenab Valley Power Projects Private Ltd (A Joint Venture Company between NHPC (49 per cent), JKSPDC (49 per cent) and PTC (2 per cent) by NHPC, NHPC said in a regulatory filing to the stock exchaanges.
Chenab Valley Power Projects was incorporated in the year 2011 to harness the vast hydro potential of Chenab river.
On Wednesday, the shares of NHPC had ended marginally higher by 0.3 per cent at Rs 26.60 in a weak market.
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