NTPC eyes majority stake in Delhi distribution cos.

Plans to enter distribution business

27 May 2020, 17:17 by PTI

Power giant NTPC has evinced interest in buying 51% stake in Anil Dhirubhai Ambani Group’s (ADAG) two utilities in Delhi, BSES Rajdhani Power Ltd. (BRPL) and BSES Yamuna Power Ltd. (BYPL).

In a letter written to Delhi Electricity Regulatory Commission (DERC) on May 26, 2020, the power giant said, “NTPC has decided to foray into power distribution sector and is keen on acquiring the distribution assets (BRPL and BYPL). We have learnt from media reports that ADAG wants to divest its stake in BRPL and BYPL.”

“NTPC is keen to explore the opportunities for acquiring 51 per cent stake in BRPL and BYPL, which are on sale, provided that the equity sale is done through a transparent process”.