NTPC to Acquire Sinnar Thermal Power Under Insolvency Process

NTPC Ltd said Maharashtra State Power Generation Company Ltd and NTPC have signed a shareholder agreement on Jan 09, 2026 to acquire Sinnar Thermal Power Ltd under the corporate insolvency resolution process.

The acquisition follows approval of the resolution plan submitted by the MAHAGENCO–NTPC consortium by the National Company Law Tribunal, Delhi, on Nov 28, 2025. Sinnar Thermal Power owns a coal-based plant with a capacity of 1,350 MW at Sinnar in Nashik district, Maharashtra. Of this, 270 MW is commercially operational.

NTPC said the transaction will be completed within 90 days from the date of NCLT approval, by Feb 26, 2026. The total acquisition cost for the consortium is ₹33.8 billion, and 100% shareholding in the target company will be acquired by MAHAGENCO and NTPC.

Following the acquisition, NTPC Group’s total installed capacity will rise to 86,987 MW, while commercial capacity will increase to 85,907 MW. The company said the deal aligns with its core business of capacity expansion in power generation and strengthens its position in India’s power sector.