Power struggle: RK Singh asks NTPC to buy stressed units
The power ministry has asked state-run NTPC to bid for potentially viable projects in the National Company Law Tribunal (NCLT) and acquire them if the prices are attractive.
Power minister RK Singh told FE that he had asked NTPC to take a look at all the plants undergoing the CIRP process. “I have asked them to identify the ones with good machinery,” Singh said.
Approximately, 40,000 MW of capacity across 34 power plants had been declared stressed with an outstanding debt of Rs 1.7 lakh crore. Around 13 projects worth Rs 59,000 crore are no longer in trouble. “Resolutions have been found for most and some are in the early stages of resolution,” he said.
