The state-owned power giant NTPC has decided to enter the electricity distribution business by showing interest in buying 51 per share of the two electricity utilities of Anil Dhirubhai Ambani Group’s (ADAG) in Delhi.
ADAG has two discom, namely BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL).
This is believed to be important since NTPC is primarily a power generation firm.
In a letter to the Delhi Electricity Regulatory Commission (DERC) dated 26 May 2020, the power giant said: "NTPC has decided to foray into the power distribution sector and is keen on acquiring the distribution assets (BRPL and BYPL)".
"We have learnt from media reports that ADAG wants to divest its 51 per cent stake in BRPL and BYPL."
"NTPC is keen to explore the opportunities for acquiring 51 per cent stake in BRPL and BYPL, which are on sale, provided that the equity sale is done through a transparent process", the company said.
Speculation is high that a number of players are keen to buy 51 per share of the two utilities.
