The government Monday kicked off its divestment process for FY18 by clearing the sale of stakes in multiple state-owned companies. It will be offloading 10 percent stake each in PFC, SAIL, NTPC & NHPC, 5 percent in REC, 15 percent in NLC India, and 3 percent in IOC via offer for sale.
Throwing more light on the above development with respect to their own company SK Acharya, Chairman, NLC India said they have not yet got any formal guideline on divestment but it is likely to happen in 2-3 months through the offer for sale (OFS) route.
On the business front, he said the company aims to add 1000 MW capacity by June 2018. By March 2018, they will add 500 MW unit, followed by another unit in two months.
As far as solar is concerned, the company will have 640 MW which will be commissioned around the same time, he said in an interview to CNBC-TV18.
So far they have got Power Purchase Agreements (PPAs) for 630 MegaWatt from the government of Tamil Nadu. We have got a letter of consent from Government of Odisha for 500 MW and we are also in talks with Karnataka and Uttar Pradesh for signing more PPAs. This could be finalised by July to August.
For them, 99 percent of business is long-term PPA and 2 percent is trading, he said.
Neyveli Lignite Corporation India Limited is a 'Navratna' profit making, Government of India Entreprise engaged in mining of lignite and generation of power through lignite based thermal power plants.
On the acquisition front, Acharya said they have identified two power stressed power assets but the due diligence is still going on.
For the full interview, watch video
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