NHPC to acquire 2% equity of PTC India in Chenab Valley Power Projects
State-run NHPC announced that it has got approval of the concerned authority to acquire the entire 2% equity stake of PTC India in Chenab Valley Power Projects Private Ltd (CVPPPL). After the acquisition of the additional 2% stake, CVPPPL will become a subsidiary company of NHPC with 51% share.
“Ministry of Power vide its letter dated 12.05.2021 has conveyed approval of competent authority for taking over of 2% equity of PTC India Limited (PTC) in Chenab Valley Power Projects Private Limited, a joint venture company between NHPC (49%), JKSPDC (49%) and PTC (2%), by NHPC Limited,” the company said in a BSE filing.
The Chenab Valley Power Projects Private Ltd has been formed at the initiative of Government of Jammu & Kashmir and Government of India to harness the vast hydro potential of river Chenab.