GE Power India acquires 50% stake in NTPC-GE joint venture

20 Apr 2021 Editorial Team

GE Power India has entered a share purchase agreement with GE Power Systems GmbH to acquire legal and beneficial ownership of 50% of the issued and paid-up share capital of NTPC GE Power Services Ltd (NGSL).

GE Power India acquired 30 lakh equity shares of NGSL from GE Power Systems, constituting 50% of its issued and paid-up share capital for Rs 7.20 crore. The acquisition is a related party transaction as the company, and GE Power Systems GmbH are GE Group affiliates. The acquisition is likely to complete by 30 April 2021.

Upon completing the acquisition of shares from GE Power Systems GmbH, the company would enter into renovation and modernisation of the thermal power plants segment and partner with NTPC. This investment and JV with NTPC is expected to consolidate the company's portfolio and open avenues for expanded scope of business for future projects.

GE Power India's consolidated net profit tanked 65.2% to Rs 35.09 crore on a 42.8% surge in net sales to Rs 1,093 crore in Q3 FY21 over Q3 FY20. GE Power India is engaged in engineering, procurement, manufacturing, construction and servicing of power plants and power equipment.

NGSL was incorporated in September 1999 under the Companies Act, 1956 and is a 50-50 joint venture between NTPC and GE Power Systems GmbH. The company is engaged in the renovation and modernisation of existing power plants with a primary focus on thermal power plants and has also ventured into supply, installation and subsequent operation and maintenance of thermal power plants.

Image Source

Also read: Rise in renewable energy M&A deals in India

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..