NTPC inks JV with Haryana Power to set up plant

New Delhi, Dec 24: State-owned power major National Thermal Power Corporation Ltd (NTPC) has said it has formed a joint venture (JV) company with Haryana Power Generation Corporation Ltd to establish a 1,500 MW coal-based power plant in Haryana.

The company will hold 60 per cent equity stake in the JV, and the rest will be shared between Haryana Power Generation Corporation and Indraprastha Power Generation Company Ltd.

Earlier this month, Asian Development Bank (ADB) agreed to give NTPC a 300 million dollars loan to finance the capital expenditure of the coal-based Sipat (2,980 MW) and Kahalgaon-II (1,500 MW) projects, to be completed by 2012.

UNI