NTPC and PowerGrid to form Pan-India Power Distribution firm in an Equal JV PSU NEWS

NTPC and PowerGrid to form Pan-India Power Distribution firm in an Equal JV

 

New Delhi: The new public sector unit will focus on aggregating electricity demand in the country and cater to it. It is being set up at a time when the state-owned discoms are struggling with their finances on account of losses and borrowings.
 
New Delhi: State run NTPC Ltd and Power Grid Corp. of India Ltd (PGCIL) may shortly set up the National Electricity Distribution Company (NCDC)—a pan-India power distribution firm in an equal joint venture, said government officials aware of the development. 
 
The new public sector unit will focus on aggregating electricity demand in the country and cater to it and may also take over weak electricity distribution utilities. It will comprise of cadre on deputation from other public sector units and is being set up at a time when the state-owned distribution companies (discoms) are struggling with their finances on account of losses and borrowings. In such a situation, a national electricity distribution company can procure electricity at competitive rates and help address the issue of stressed assets in power generation. 
 
“The contours of NCDC have been discussed upon and it will be set up by NTPC and PGCIL as a 50:50 JV," said a government official cited above requesting anonymity.


Posted Date :  13-03-19

Categories : PSU NEWS

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