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Home News Power Sector News NTPC begins to search for a partner for electricity distribution

NTPC begins to search for a partner for electricity distribution

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NTPCNTPC, the country's largest power producer, is floating a joint venture as part of its plan to foray into electricity distribution. The company's distribution arm, NTPC Electric Supply Co Ltd (NESCL), has invited bids from power distribution licensees with five years of experience.

"NESCL intends to undertake electricity distribution to end consumers, including domestic, commercial, industrial and agriculture units, in some states," a company executive said. "The distribution business will be undertaken through a new entity, to be owned jointly by NESCL and its partner."

The JV may also bid for distribution licensee contracts of states.

NESCL has floated an expression of interest inviting companies with a minimum average net worth of Rs 500 crore in the three preceding financial years.

The selection of a partner will take about three months, he said.

NTPC is mainly engaged in power generation and has an installed capacity of 39,174 MW. NESCL was incorporated in 2002 and is engaged in providing in-house consultancy services to various state electricity boards in retail distribution.

NESCL has a JV with Kerala Industrial Infrastructure Development Corporation (KSIDC) to take up retail power distribution in various industrial parks and SEZs. NTPC had early this year announced plans to lay network for power distribution within 5-10 km radius of all its projects.

The government last Monday approved a bailout package for state power distribution companies that have accumulated losses of over Rs 1.9 lakh crore.

Source- TOI

 

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