State-run power producer NTPC wants to acquire a majority stake in BSES Yamuna (BYPL) and BSES Rajdhani (BRPL), the subsidiaries of Reliance Infrastructure that supply electricity in south, west, east and central Delhi. “It is submitted that NTPC is keen to explore the opportunities for acquiring 51% stake in BRPL and BYPL, which are on sale, provided the equity sale is done through a transparent process,” the company said in a letter, reviewed by FE, to the Delhi Electricity Regulatory Commission (DERC).
NTPC in June last year had agreed to create National Electricity Distribution Company — a joint venture with Power Grid Corporation (PGCIL) — to foray into the electricity distribution business on a pan-India basis. Discoms in Delhi, with aggregate technical (AT&C) losses of less than 8%, is considered to be an attractive geographies in the sector owing to its predominantly urban population with a large section of high-paying commercial and industrial consumers.
