NTPC along with Ceylon Electricity Board has incorporated 'Trincomalee Power Company', a joint venture that would set up a 500 MW coal-based power plant in Sri Lanka.
In a regulatory filing, NTPC said the joint venture entity was incorporated on September 26.
"The joint venture Company shall set up 2x250 MW coal-based power project in Trincomalee Region in Sri Lanka," it added.
Earlier this month, NTPC signed a joint venture pact with Ceylon Electricity Board to set up a 500 MW coal-based power plant in Sri Lanka.
The plant, which is estimated to see an investment of up to $700 million, would come up at Sampur in Trincomalee.
It will have a capacity of 500 MW with two generating units of 250 MW each. There is also a possibility of enhancing the capacity by another 500 MW.
The project is expected to go on stream by 2016 and would help in meeting the rising demand for power in Sri Lanka.
NTPC has an installed capacity of 34,854 MW, with 15 coal-based, 7 gas-based power stations and 6 joint venture/ subsidiary power projects across India. The entity is currently working on many new projects for rapid capacity addition and plans to become 1,28,000 MW plus company by 2032.
