NTPC eyes govt stake in SJVN worth Rs 8,720 cr: Sources

NTPC's only hydro-power plant has a capacity of 800 megawatts

NTPC Ltd, India’s biggest electricity producer, is seeking to buy the central government’s stake in hydro-power producer SJVN Ltd to boost its share of non-fossil fuel generation capacity, according to people with knowledge of the development.

New Delhi-based NTPC has written to the finance ministry’s Department of Investment and Public Asset Management proposing to buy the central government’s stake in SJVN, the people said, asking not to be identified as the matter isn’t public. The central government’s 64.5 per cent share in the hydro-power generator is valued at Rs 8,720 crore ($1.3 billion), according to Bloomberg 

calculations.

The purchase will aid state-run NTPC