NTPC to raise $400 mn via bond issue: Report

INDIA's leading power generator NTPC is raising $400 million through a 10-year dollar-denominated bond issue, even as the state-run company switched on the third 800-MW super critical unit of Kudgi power station to race past a total generation capacity of 52,000 MW, including joint ventures.
The bonds, part of the company's plan to raise $6 billion, will carry an interest of 4.5% and listed on the Singapore Exchange Securities Trading Ltd and India International Exchange IFSC.
NTPC aims to use the funds to meet requirement of capital expenditure for...
ongoing and new projects, coal mining plans as well as upgrade of old units. The Budget had indicated NTPC's capital expenditure at Rs 23,000 crore for in 2018-19 against Rs 28,000 crore in 2017-18.
With the third unit of the Kudgi power station, NTPC's own capacity stands at 45,300 MW, while the NTPC group that includes joint ventures now represents a capacity of 52,191 MW.
NTPC has 20 coal-fired, seven gas-fired, 11 solar power, two Hydel and one wind power plants. The company is currently building an additional capacity of over 20,000 MW at multiple locations in the country. It has eight power plants as subsidiaries and joint ventures.
Earlier, the state-run power giant is in the process of finalising the acquisition of entire stake of Bihar State Power Holding Company Ltd (BSPHC) in its two JV plants at Nabinagar and Kanti for around Rs 30 billion in a month.
The PSU is also targeting stakes in other stressed assets and plants owned by the state utilities.
The company is also looking at power generation units owned by Rajasthan utilities, the source said, adding that a deal could materialise in the next financial year.
The Maharatna PSU at present operates 20 coal-based, seven gas-based, 11 solar Photo Voltaic (PV), two hydro, one wind and eight power plants with joint ventures. The firm is currently building an additional capacity of over 20,000 MW at multiple locations in the country. The PSU accounts for around 24 per cent of the country’s total power generation and plans to increase installed power capacity to 130,000 MW by 2032. In line with the government’s thrust on renewable energy, NTPC is increasing its green energy footprint and has already generated 912 million units from its solar and wind stations so far during the current financial year, a three-fold growth over the generation in the same period last fiscal.