NTPC Led consortium gets Letter of Intent to acquire Sinnar Thermal Power Limited

New Delhi: In a significant move to acquire Sinnar Thermal Power Ltd, which is under the corporate insolvency proceedings since January 2024 due to a dispute over unpaid construction dues, the consortium of Mahagenco-NTPC Ltd has been declared the successful applicant.

Meanwhile, in October 2024, the consortium of Maharashtra’s state-owned Mahagenco and public sector NTPC has emerged as the first bidder to acquire the 1,350 MW Sinnar Thermal Power Plant near Nashik.

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The state-owned NTPC Ltd has stated that the Resolution Plan submitted by the Consortium of Maharashtra State Power Generation Company Limited and NTPC Limited (“Consortium”) for Sinnar Thermal Power Limited (“STPL”), a company undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 ("IBC"), has been approved by the Committee of Creditors ("COC").

The consortium has received a Letter of Intent from the Resolution Professional on June 14, 2025, in this regard, subject to acceptance of associated terms and conditions.

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The implementation of the resolution plan is subject to the terms outlined in the LOI and the necessary approvals from the National Company Law Tribunal, Delhi, and/or any other relevant regulatory authority, court, or tribunal, under applicable laws, as per the exchange filing.

STPL owns a coal-based thermal power plant of 5X270 MW (1350 MW) capacity at Sinnar, Nashik, Maharashtra.

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