The company may form a special purpose vehicle (SPV) for the last stage (1,800 MW) expansion of the power project, in which it would offer stake to Qatar Petroleum.
NTPC is keen to get Qatar in Kayamkulum project, as the Gulf-nation would help in return by bringing gas for the plant.
With uncertainty over gas from Reliance Industries' KG Basin, the deal with Qatar Petroleum would give some stability to India's largest power producer.
NTPC plans to become 75,000 MW company by 2017 and to achieve the target the company needs to have assured supply of fuel both coal and gas.
The company generates about 4,000 MW of electricity from its seven gas-based plants and 1,940 MW from Ratanagiri plant in joint venture with GAIL and Maharashtra State Electricity Board.
The company is planning a mega expansion of 6,000 MW for its functional gas-based stations at Kawas and Gandhar (Gujarat), Auraiya and Dadri in Uttar Pradesh and Kayamkulam in Kerala.
For the capacity addition of this magnitude, the company requires 30 million standard cubic metres of gas per day (mmscmd). One MMSCMD is needed for firing a 200 MW gas-based power project.
At present, NTPC has seven gas-based stations in -- 413 MW Anta (Rajasthan), 652 MW Auraiya (Uttar Pradesh), 645 MW Kawas (Gujarat), 817 MW Dadri (Uttar Pradesh), 648 MW Jhanor-Gandhar (Gujarat), 430 MW Faridabad (Haryana) and 350 MW Rajiv Gandhi combined cycle power project at Kayamkulam.
The company's current fuel requirement is 17 MMSCMD which is likely to rise, with an increase in the capacity to over 10,000 MW in the next five years.
Source- Economic Times