NTPC will takeover 3,000-odd acres of vacant land from Patratu Thermal Power Station (PTPS) in Jharkhand to set up 1320 mw of thermal power generation capacity at an investment of Rs 6,600 crore. A memorandum of understading between NTPC and Jharkhand State Electricity Board (JSEB), the holding company for PTPS, will be signed by December 31, a top NTPC official said.
Earlier, NTPC wanted to take over the entire power station along with the land and existing thermal generation units from JSEB. The initial plan included floating a JV in which NTPC would hold 75% while JSEB the rest 25%. This proposed JV would have taken over PTPS, scrapped the existing plants there, and built new units.
"This plan has now been replaced with a new one, where the vacant land at PTPS will be transferred to NTPC on which the new generation units will be built through a JV. NTPC will take a 74% stake in the proposed company while JSEB will hold 26% in lieu of land at PTPS, which will be transferred to the venture," the NTPC official said.
He added: "NTPC had earlier helped JSEB in renovation and modernisation of the PTPS plant. However, it did not help much as generation dwindled. Subsequently, JSEB wanted to strike a deal with NTPC for jointly running the plant. But the power major did not agree to the proposal and wanted to take over the plant but employees of the plant did not agree to the proposal."
During May last year, a team of professionals visited the Patratu site for a feasibility study that included all aspects of the plant including land availability, water and coal.
At present, PTPS has 10 units with a total capacity of 840mw. Units 1 to 6, set up by Czech firm Skoda in collaboration with erstwhile USSR, are more than 36 years old. The remaining four units were built by Bhel 20 years ago. The station generates between 40mw and 120mw. Plant load factor is less than 10%.
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