NTPC Ltd and Maharashtra State Power Generation Company Ltd (Mahagenco) have executed a shareholder agreement on Friday, January 9, 2026, in connection with the acquisition of Sinnar Thermal Power Ltd (STPL), according to an exchange filing by NTPC.The agreement relates to the acquisition of STPL, which is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The resolution plan submitted by the consortium of NTPC and Mahagenco was approved by the National Company Law Tribunal (NCLT), Delhi, on November 28, 2025.
STPL owns a coal-based thermal power plant with a capacity of 1,350 MW, comprising five units of 270 MW each, located at Sinnar in Nashik district of Maharashtra.
As per the filing, the acquisition will be completed within 90 days from the date of the NCLT approval, by February 26, 2026. The total acquisition cost for the consortium is ₹3,800.14 crore and will be paid in cash.Upon completion of the transaction, 100% shareholding in STPL will be acquired by the consortium, with NTPC and Mahagenco holding 50% each.

Following the acquisition, NTPC Group’s total installed capacity will increase to 86,987 MW, while its commercial capacity will rise to 85,907 MW, the filing said.

Shares of NTPC closed over 2% lower at ₹336 today, January 9.

Also Read: Embassy Developments Q3 Update | Pre-sales jump 240% QoQ to ₹1,392 crore

(Edited by : Shoma Bhattacharjee)

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NTPC, Mahagenco sign shareholder agreement for Sinnar Thermal Power acquisition

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