National Thermal Power Corporation (NTPC) has entered into a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL) to jointly own and operate the Chhabra Thermal Power Plant in Rajasthan. The agreement, signed on Monday, establishes a 50:50 partnership between the two state-owned entities.
The Chhabra plant, located in Rajasthan, has a total capacity of 2,320 MW. Under the new partnership, both NTPC and RVUNL will share ownership and operational responsibilities of the plant, with plans to explore potential capacity expansions in the future.
As per the agreement, both entities will have equal rights to appoint directors to the joint venture company. However, NTPC will retain management control, including the authority to appoint key executives such as the Chief Executive Officer (CEO), Chief Financial Officer (CFO), and Chief Operating Officer (COO).
This strategic collaboration is seen as a significant move by NTPC to expand its footprint in the power generation sector, while also reinforcing RVUNL’s role in enhancing Rajasthan’s energy infrastructure.
