National Thermal Power Corporation (NTPC) Ltd on 3 May 2015 signed a Memorandum of Agreement (MoA) with Jharkhand Government for forming a Joint Venture Company for managing Patratu Thermal Power Station (PTPS).
This Joint Venture (JV) Company will be promoted by NTPC and Jharkhand Bidyut Vitaran Nigam Ltd. (JBVNL) with 74:26 equity participation. The JV Company will give employment to all the employees working in the station and will increase earning opportunities for many service providers.
Highlights of the MoA
• Performance improvement of existing station from 15 percent PLF to 82 percent to give more power to Jharkhand immediately.
• Building of an efficient Super Critical project of 4000 MW in 2 phases.
• Provide cheap and affordable 27X7 power supply to every household and adequate power for farmers in Jharkhand.
• Enable rapid industrialization which will provide massive employment to youth of Jharkhand in new industry.
• Jharkhand government will be a partner in this project without investing any additional capital.
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When: 3 May 2015