NHPC has got approval of the concerned authority to acquire the entire two percent equity stake of PTC India in Chenab Valley Power Projects.
After the acquisition of the stake, NHPC’s share will increase to 51 percent to become a majority stakeholder in Chenab Valley Power Projects.
The Ministry of Power has conveyed approval of competent authority for taking over of two percent equity of PTC India (PTC) in Chenab Valley Power Projects (a joint venture company between NHPC (49 percent), the Jammu and Kashmir Power Development Corporation (JKSPDC) (49 percent) and PTC (two percent) by NHPC.
The Chenab Valley Power Projects has been formed at the initiative of the government of Jammu & Kashmir and the government of India to harness the vast hydro potential of river Chenab. The company was incorporated on 13 June 2011.
It has been entrusted with construction of hydro projects on build, own, operate and maintain (BOOM) basis with aggregate installed capacity of 3,094 MW.
The projects are Pakal Dul hydro electric project (1,000 MW), Kiru hydro electric project (624 MW), Kwar hydro electric project (540 MW) and Kirthai-II hydro electric project (930 MW).