NTPC to Acquire Sinnar Thermal Power Ltd for ₹3,800 Crore, Capacity Rises to 86,987 MW
NTPC Limited and MAHAGENCO signed a Shareholder Agreement on January 9, 2026, for the acquisition of Sinnar Thermal Power Limited (STPL). The total acquisition cost for the consortium is ₹3800.14 Crore. This acquisition will increase NTPC's total installed capacity to 86,987 MW. The deal is expected to be completed by February 26, 2026.
The acquisition significantly increases NTPC's installed capacity and is a strategic move in the power generation sector, indicating a substantial impact on the company's operations and market position.
The acquisition of Sinnar Thermal Power Limited will increase NTPC's installed capacity, strengthening its position as a leading power producer, which is a positive development for the company.
NTPC Limited, in continuation of its previous disclosures, has signed a Shareholder Agreement (SHA) with Maharashtra State Power Generation Company Limited (MAHAGENCO) on 9th January 2026 in Delhi. This agreement is in connection with the acquisition of Sinnar Thermal Power Limited (STPL), which is undergoing Corporate Insolvency Resolution Process (CIRP).
The Resolution Plan submitted by the Consortium of MAHAGENCO and NTPC has been approved by the Hon’ble National Company Law Tribunal (NCLT), Delhi, on 28th November 2025. STPL owns a coal-based thermal power plant with a capacity of 5X270 MW (1350MW) located at Sinnar, Nashik, Maharashtra.
With this acquisition, the total installed capacity of the NTPC group will increase to 86,987 MW, and its commercial capacity will reach 85,907 MW. The acquisition involves a cash consideration of ₹3800.14 Crore for the Consortium, with both MAHAGENCO and NTPC holding a 50% stake each. STPL, incorporated on 3rd January 2007, is an unlisted public company. The acquisition is expected to be completed within 90 days from the NCLT’s approval order, by 26th February 2026. This move aligns with NTPC's core business of capacity expansion in Power Generation, advancing its position as India's leading power producer.
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NTPC Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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