State-run hydro power giant NHPC recently said that it has got approval of the concerned authority to acquire the entire 2 per cent equity stake of PTC India in Chenab Valley Power Projects Private Ltd. After the acquisition of the stake, the NHPC's share will increase to 51 per cent to become a majority stakeholder in Chenab Valley Power Projects Private Ltd.
"Ministry of Power vide its letter dated May 12, 2021 has conveyed approval of competent authority for taking over of 2 per cent equity of PTC India Limited (PTC) in Chenab Valley Power Projects Private Ltd (A Joint Venture Company between NHPC (49 per cent), JKSPDC (49 per cent) and PTC (2 per cent)) by NHPC Ltd," a BSE filing said.
The Chenab Valley Power Projects Private Ltd. has been formed at the initiative of Government of Jammu & Kashmir and Government of India to harness the vast hydro potential of river Chenab. The company was incorporated on June 13, 2011.
It has been entrusted with construction of hydro projects on Build, Own, Operate and Maintain (BOOM) basis with aggregate installed capacity of 3094 MW.
The projects are Pakal Dul hydro electric Project (1000 MW), Kiru hydro electric Project (624 MW), Kwar hydro electric Project (540 MW) and Kirthai-II hydro electric Project (930 MW).
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