Nhpc Ltd - Latest News Update, Information, Photos & Videos on Nhpc Ltd at Lokmat Times

Under the terms of the agreement, NHPC will be taking over 30 per cent equity in LTHPL and complete the power project being developed on Teesta river. The state-owned hydro power major has offered Rs 897.50 crore towards the resolution of LTHPL under the corporate insolvency resolution process.NHPC already has operational projects upstream of the river and the addition of Teesta VI would give it almost full control of the river system in Sikkim. The company has been on the lookout for revivable hydro power projects facing insolvency proceedings as part of its plan to expand capacity.NHPC has not got a project in the last 15 years. This is going to be the first project to commence construction after a gap of 15 years.The LTHPL project will be implemented at an estimated project cost of Rs 5,748.04 crore (at July 2018 price level), which includes a bid amount of Rs 897.50 crore for acquisition. All creditors whose claims were admitted by the resolution professional will be getting 36 per cent of their claims on a pro-rata basis from the proceeds coming out of NHPC's bid.Earlier in March 2019, the Cabinet Committee on Economic Affairs (CCEA) had approved the proposal for the acquisition. Later in July, the National Company Law Tribunal's (NCLT), Hyderabad bench approved the resolution plan of NHPC. LTHPL project will be completed in a period of five years."We tried to salvage the project and bid aggressively as there was an auction process. It is a a process which we have completed," NHPC Ltd Chairman and Managing Director o Balraj Joshi said at an event to mark the signing of this definitive agreement.Joshi also said that NHPC would be bidding for the 120 MW Jal Power Project, another asset under the Insolvency and Bankruptcy Code.For the Teesta VI, banks have also agreed to relax the payment schedules so that the process does not come under stress again. The levelised tariff from this project is estimated to be Rs 4.07 per unit.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Nhpc LtdFOLLOW

Nhpc ltd, Latest News

Business :NHPC signs MoU with Odisha for solar energy projects

New Delhi [India], June 26 : India's largest hydropower development company NHPC has signed a Memorandum of Understanding with ... ...

National :Ladakh high on development path with three new hydel projects on anvil

Ladakh is now on a high growth trajectory and becoming more developed with every passing day. Ladakh was established ... ...

Politics :NHPC to set up hydrogen project in Himachal

Chamba (Himachal Pradesh), April 15 A Memorandum of Understanding (MoU) was signed on Friday between the district administration ... ...

Business :NHPC raises Rs 750 crore at coupon of 6.80 pc per annum

State-owned NHPC Ltd said on Thursday it has raised Rs 750 crore through private placement of bonds at a competitive interest rate of 6.80 per cent per annum for a loan tenure of 10 years. ...

Business :NHPC takes over 500 MW Lanco Teesta Hydro for Rs 897 cr

NHPC Ltd on Friday entered into a definitive agreement with lenders for the takeover of insolvent Lanco Teesta Hydro Power Ltd (LTHPL), which is implementing the 500 MW Teesta VI Hydropower project in Sikkim. ...