NHPTL board approves 13.1 million NHPC share transfer to Power Grid

12 Jun 2024 CW Team

Hydropower giant NHPC announced that the board of its joint venture, National High Power Test Laboratory Pvt Ltd (NHPTL), has approved the transfer of 13.1 million equity shares to Power Grid Corporation. According to the regulatory filing, this decision reduces NHPC's stake in NHPTL from 20% to 12.5%, meaning NHPTL will no longer be an associate company of NHPC Ltd.

The board's decision follows a supplementary joint venture agreement signed between NHPTL partners. In April 2024, state-owned Power Grid Corporation agreed to infuse funds and acquire a 50% stake in the financially troubled NHPTL. This agreement was formalised on April 23, 2024, with NHPTL shareholders.

NHPTL is a joint venture involving NTPC, NHPC, DVC (Damodar Valley Corporation), and CPRI (Central Power Research Institute). The infusion of funds is contingent upon approval from the management of the JV parties.

A revival plan was agreed upon in a meeting with the Ministry of Power on September 15, 2022, aiming to address NHPTL's financial crisis and ensure its long-term viability. Under this plan, Power Grid's equity in NHPTL will increase to 50%, with the remaining equity distributed equally among the other four JV partners, each holding 12.5%.

Following the equity infusion by Power Grid, the NHPTL board will include two directors from Power Grid, including the chairman, and one nominee director from the other promoters on a rotational basis. The joint venture's objective is to establish an online high power short circuit test facility in India, offering a comprehensive range of short circuit testing services for the electrical equipment manufacturing industry and power supply utilities, in line with Indian and international standards.

Infrastructure Energy

09 Mar 2026

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..

Flender launches India’s largest wind gearbox test rig in Walajabad

Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the largest installation of its kind in India. The new facility is expected to strengthen the company’s manufacturing and testing capabilities while supporting the growing demands of the wind power sector in both domestic and global markets.The test rig was inaugurated on March 5 in the presence of Andreas Evertz, Group CEO, Flender; Lars Wiegemann, Vice President Wind Gears, Flender; and Vinod Shetty, CEO, Flender India, along with key industry customers and stakeholders.The insta..