NTPC, Mahagenco inks pact for Sinnar Thermal acquisition

12 Jan 2026 , 12:02 PM

NTPC Ltd and Maharashtra State Power Generation Company Ltd (Mahagenco) announced that they have executed a shareholder agreement on Friday, January 9, 2026. The pact is in connection with the acquisition of Sinnar Thermal Power Ltd (STPL), according to the company’s filing with the exchanges.

The collaboration is related to acquisition of STPL. The company is currently undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. 

NCLT has approved the resolution plan submitted by the consortium of NTPC and Mahagenco on November 28, 2025.

STPL has a coal-based thermal power plant with a 1,350 MW capacity. It consists of 5 units of 270 MW each. The plant is situated at Sinnar in Nashik, Maharashtra.

As per the company’s filing with the bourses, it plans to complete the acquisition within a period of 90 Days from receiving NCLT approval. Hence, by February 26, 2026. The aggregate value of this transaction is ₹3,800.14 Crore and will be paid in cash.

On completion of this transaction, STPL’s 100% shareholding will be acquired by the consortium. NTPC and Mahagenco each will hold 50% stake.

After completion of this acquisition, NTPC Group’s total installed capacity will increase to 86,987 MW. Also, commercial capacity will expand to 85,907 MW.

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