NHPC to acquire 2 per cent equity stake of PTC India in CVPPL

NHPC Limited will be acquiring the entire 2 per cent equity stake of PTC India Limited in Chenab Valley Power Projects Private Limited (CVPPL). The Ministry of Power has recently conveyed its approval of a competent authority for taking over the equity stake. CVPPL is a joint venture between NHPC (49 per cent), the Jammu & Kashmir Power Development Corporation (49 per cent) and PTC (2 per cent). It is building four hydroelectric projects (HEPs) in Kashmir with an aggregate installed capacity of 3,094 MW on a build-own-operate-maintain basis. The projects are the Pakal Dul HEP (1,000 MW), Kiru HEP (624 MW), Kwar HEP (540 MW) and Kirthai II HEP (930 MW).