New Delhi: The government is in talks to sell its stake in hydro power producer NHPC to its state-run peer NTPC, the country's biggest electricity generator by capacity, say sources.
The Ministries of Finance and Power are discussing a plan to sell the government’s 73.67 percent stake in NHPC to NTPC, which is owned 62.7 percent by the government.
Through the stake sale, the government is looking to exit from NHPC. The talks are at an initial stage and a deal is unlikely to be concluded this fiscal year, sources told CNBC-TV18.
The sale, if approved, will be the second such consolidation after state-run Oil and Natural Gas Corp. acquired the government’s stake in oil refiner Hindustan Petroleum Corp. for Rs 369 billion.
Last year, NTPC sought to acquire the federal government’s stake in another hydro-electricity generator SJVN Ltd., but it hasn’t been able to forge a deal yet.
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