NTPC has incorporated a new subsidiary Patratu Vidyut Utpadan Nigam Ltd to acquire, establish, operate, maintain, revive, refurbish, renovate and modernize the performing existing units and further capacity expansion of Patratu Thermal Power plant located in Ramgarh district, Jharkhand. NTPC shall hold 74 per cent of the equity share capital in Patratu Vidyut Utpadan Nigam and balance 26 per cent of the equity share capital shall be held by Jharkhand Bijli Vitaran Nigam Ltd.
The new joint venture will be responsible for not only reviving the existing Patratu thermal power station but also setting up a new 4,000-mw supercritical power plant in Jharkhand. While announcing its plans of forming a joint venture, in May this year, NTPC said that the PLF of the Patratu plant will be improved from 15 per cent to 82 per cent, improving the power situation in Jharkhand.
According to information available, Jharkhand’s equity participation in the joint venture will be through the assets transferred (old power plant, land, etc). There will be no additional capital infused by Jharkhand. Besides, all employees of the existing Patratu thermal power station will be absorbed by the new joint venture.
The 840-mw coal-fired Patratu power plant was to be revived using private sector participation. However, NTPC was nominated as tariff-based bidding to select the developer would have consumed at least two years, it is reported.
According to the latest report by Central Electricity Authority, the monitored capacity of the Patratu thermal power plant is 770 mw and during the first five months (April to August) of 2015, the plant operated at a PLF of just 10.46 per cent.
