NTPC–Mahagenco to Acquire 1,350 MW Sinnar Thermal Power via Insolvency Process

and Maharashtra State Power Generation Company Ltd (Mahagenco) have signed a shareholder agreement to jointly acquire Sinnar Thermal Power Ltd (STPL), as disclosed in an NTPC exchange filing dated January 9, 2026. The target company is currently undergoing a corporate insolvency resolution process under India’s Insolvency and Bankruptcy Code, 2016, and the consortium’s resolution plan has already been approved by the National Company Law Tribunal (NCLT), Delhi on November 28, 2025. STPL owns a coal-based thermal power plant of 1,350 MW (five units of 270 MW each) located at Sinnar in Maharashtra’s Nashik district. The total acquisition consideration for the consortium is ₹3,800.14 crore, to be paid in cash, and the transaction is expected to close within 90 days of NCLT approval—by February 26, 2026. Post-completion, the consortium will acquire 100% of STPL, with NTPC and Mahagenco holding 50% each. Following closure, NTPC Group’s total installed capacity is expected to rise to 86,987 MW and commercial capacity to 85,907 MW, reflecting the integration of the acquired asset into the group’s operating base. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.