The NTPC Limited and Maharashtra State Power Generation Company Limited consortium has completed the acquisition of the Sinnar Thermal Power plant in Nashik district, Maharashtra, following approval of a resolution plan under the Insolvency and Bankruptcy Code. The transaction transfers ownership and operational control of the coal based facility to the partners, who will hold equal stakes in the project assets. The move reflects a broader trend of established utilities opting for asset acquisitions to accelerate capacity addition.

The Sinnar plant has a total installed capacity of 1,350 megawatts (MW) and comprises five generating units of 270 megawatts each. The integration of the plant into the NTPC Group network is expected to strengthen baseload supply and support regional grid stability as electricity demand rises across industrial and urban centres. The completion of the acquisition follows a resolution process intended to revive stressed infrastructure and return underutilised assets to mainstream generation.

The transaction was completed at a cash consideration of Rs 38,001.4 million (Rs 38,001.4 mn), reflecting the valuation arrived at under the insolvency resolution framework. With the addition of the Sinnar facility, the NTPC Group's installed capacity has increased further, reinforcing its leadership in India’s electricity generation landscape. Sector participants noted that acquisitions through insolvency resolution offer a relatively faster pathway to capacity expansion compared with time intensive greenfield development.

The consortium's approach is consistent with strategic consolidation in the power sector, where operational projects are preferred to long gestation new builds to meet near term supply needs. The acquisition is expected to unlock value from existing assets, enhance operational efficiencies and contribute to meeting demand growth while maintaining system reliability. As India balances energy security and transition objectives, such transactions are likely to remain a feature of the evolving market.