NTPC acquires GAIL’s 25.51 per cent stake in Ratnagiri Gas and Power

NTPC has signed a share purchase agreement to buy GAIL Limited’s 25.51 per cent stake in Ratnagiri Gas and Power Private Limited (RGPPL). RGPPL was incorporated in 2005, to take over and revive the assets of the Dabhol Power Company project. Initially, NTPC and GAIL had 25.51 per cent stake each in the Dabhol project. After the transaction is complete, NTPC will have a 86.49 per cent stake in RGPPL. Earlier in January, NTPC had announced acquiring 35.47 per cent stake in RGPPL from its lenders. Further, NTPC has sold its share of 14.82 per cent, on a fully dilutive basis, in Konkan LNG Limited (KLL), which owns and operates the LNG regasification terminal at Dabhol, marking NTPC’s exit from KLL.