NTPC to foray into distribution, keen to buy majority stake in BRPL, BYPL
May 27, 2020, 16:28 IST
New Delhi, May 27 () State-owned power giant NTPC has decided to foray in electricity distribution business by evincing interest to buy 51 per stake in Anil Dhirubhai Ambani Group's (ADAG) two utilities in Delhi.
The speculation is rife that number of players are keen to buy 51 per stake in the two utilities. KKS BAL
The ADAG has two discoms namely BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL).
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This assumes significance because NTPC is primarily power generation company.
In a letter written to Delhi Electricity Regulatory Commission (DERC) on May 26, 2020, the power giant said, "NTPC has decided to foray into power distribution sector and keen on acquiring the distribution assets (BRPL and BYPL)".
"We have learnt from media reports that ADAG wants to divest its 51 per cent stake in BRPL and BYPL."
The company also said, "NTPC is keen to explore the opportunities for acquiring 51 per cent stake in BRPL and BYPL, which are on sale, provided that the equity sale is done through a transparent process".
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