NTPC, Mahagenco Secure 1,350 MW Power Plant for ₹3,800 Crore

ENERGY

Overview

NTPC and Mahagenco have signed a shareholder agreement to jointly acquire Sinnar Thermal Power Ltd (STPL) for ₹3,800.14 crore. The deal, approved by NCLT, adds a 1,350 MW coal plant to NTPC Group's capacity, boosting it to over 86 GW. The acquisition is set to finalize by February 26, 2026.

Capacity Boost Through Strategic Acquisition

NTPC Ltd and Maharashtra State Power Generation Company Ltd (Mahagenco) have formalized a significant shareholder agreement. The pact centers on acquiring Sinnar Thermal Power Ltd (STPL), marking a substantial expansion for India's energy sector.

Financials and Timeline

This deal involves the 1,350 MW coal-fired Sinnar Thermal Power plant in Maharashtra's Nashik district. The National Company Law Tribunal (NCLT) in Delhi greenlit the consortium's resolution plan on November 28, 2025. The total acquisition cost stands at ₹3,800.14 crore, with payment due in cash. Completion is slated for February 26, 2026.

NTPC Group's Growing Footprint

Once the transaction concludes, both NTPC and Mahagenco will hold a 50% stake in STPL. This integration will elevate the NTPC Group's total installed capacity to 86,987 MW. Its commercial capacity will reach 85,907 MW. The news emerged as NTPC shares saw a dip, closing over 2% lower at ₹336 on January 9.

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