NTPC Limited and Maharashtra State Power Generation Company Limited (MAHAGENCO) have signed a Shareholder Agreement (SHA) for the acquisition of Sinnar Thermal Power Limited (STPL), following approval of the resolution plan by the National Company Law Tribunal (NCLT).
STPL operates a coal-based thermal power plant of 1,350 MW capacity (5×270 MW) at Sinnar in Nashik district, Maharashtra. At present, only one 270 MW unit is under commercial operation. With the completion of this acquisition, NTPC Group’s total installed capacity will rise to 86,987 MW, while commercial capacity will increase to 85,907 MW.
The acquisition will be completed within 90 days of NCLT approval, with a total cash consideration of ₹3,800.14 crore by the NTPC–MAHAGENCO consortium. The SHA provides for equal ownership, with both partners holding a 50 per cent stake.
The move aligns with NTPC’s expansion strategy and is expected to strengthen its leadership in India’s power generation sector while supporting capacity addition and operational efficiency.
