New Delhi, January 9, 2026: NTPC Limited and Maharashtra State Power Generation Company Limited have executed a shareholder agreement to jointly acquire Sinnar Thermal Power Limited, marking a significant capacity addition for the NTPC Group.
The agreement was signed on January 9, 2026, in connection with the acquisition of Sinnar Thermal Power Limited, which owns a coal-based thermal power project with an installed capacity of 1,350 MW, comprising five units of 270 MW each, located at Sinnar in Nashik district, Maharashtra.
Transaction Structure and Ownership
Under the terms of the agreement, NTPC and MAHAGENCO will acquire 100 percent equity ownership of Sinnar Thermal Power Limited through a consortium arrangement. Both partners will hold equal stakes of 50 percent each in the acquired entity. The acquisition consideration for the consortium stands at ₹3,800.14 crore and will be settled entirely in cash.Capacity Impact on NTPC Group
With the completion of this acquisition, the NTPC Group’s total installed power generation capacity will increase to 86,987 MW, while its commercial capacity will rise to 85,907 MW. The Sinnar project currently has one unit of 270 MW declared under commercial operation, with the remaining capacity expected to be operationalised in phases.Strategic Rationale
The acquisition aligns with NTPC’s core strategy of capacity expansion in thermal power generation and strengthens its position as India’s largest power producer. The Sinnar project adds scale in a key industrial state and enhances operational flexibility within the group’s existing thermal portfolio.About Sinnar Thermal Power Limited
Sinnar Thermal Power Limited is an unlisted public company incorporated on January 3, 2007, with its registered office in Delhi. The company owns and operates a coal-based thermal power plant at Sinnar, Nashik, Maharashtra. The entity has not reported operational turnover over the last three financial years, as the project has been under development and resolution.About NTPC Limited
NTPC Limited is a listed central public sector enterprise and India’s largest integrated power utility, with a diversified generation portfolio spanning thermal, hydro, solar, and wind energy. The company continues to focus on expanding its generation capacity while maintaining operational efficiency and reliability across its assets.Source:
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