NTPC eyeing distressed projects; looking at 7 coal-based units.

Country's largest power generating company NTPC is looking to acquire distressed power projects in the execution stage or in the commissioning stage, said Arup Roy Choudhury, CMD of the state-run firm.

At present, seven coal-based power plants in various stages are being looked at, he said, without specifying any time-frame for an eventual takeover.

'We are also in the process of inorganic growth. There are many units which are not doing well or which have become sick that have approached us for taking (them) over. We are examining them'.

'Our Board has formed a Sub-Committee and it is looking into it and we will probably acquire some properties which are good enough for acquisition,' Choudhury told reporters at a press conference.

'There are seven plants and they are all coal-based. They would be as big as 2,000 MW,' he added.


ET