NTPC Plans to Buy Majority Stake in ADAG’s BRPL, BYPL, Targets Foray into Distribution Business

The ADAG has two Discoms in Delhi namely BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL), which supplies electricity to approx 4.4 million customers. This assumes significance as the state-owned NTPC is primarily into power generation

May 28, 2020. By News Bureau

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NTPC has announced that it is planning to foray into electricity distribution business as it has demonstrated interest to obtain majority stake of 51 per cent in Anil Dhirubhai Ambani Group’s (ADAG) two utilities.

The ADAG has two Discoms in Delhi namely BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL), which supplies electricity to approx 4.4 million customers. This assumes significance as the state-owned NTPC is primarily into power generation.

As per the report, NTPC’s move is in the backdrop of few companies namely Enel Group, Torrent Power and Greenko Group submitting non-binding offers to buy majority stake in ADAG utilities.

In a letter written to Delhi Electricity Regulatory Commission (DERC) on May 26, 2020, NTPC said that, “NTPC has decided to foray into power distribution sector and keen on acquiring the distribution assets (BRPL and BYPL).”

“We have learnt from media reports that ADAG wants to divest its 51 per cent stake in BRPL and BYPL,” power giant added.

The company further added that “NTPC is keen to explore the opportunities for acquiring 51 per cent stake in BRPL and BYPL, which are on sale, provided that the equity sale is done through a transparent process.”

However, the speculation is rife that number of players are keen to buy 51 per cent stake in these two utilities of Reliance Infrastructure.

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