NTPC signed agreement with JBVNL to form Joint Venture for Patratu Power Plant [ Current Affairs ]

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About NTPC: NTPC Limited stands for National Thermal Power Corporation Limited is an Indian Central Public Sector Undertaking (CPSU) under the Ministry of Power, Government of India.

  • Its work is to generate electricity and allied activities.
  • It’s headquarter is in New Delhi.
  • NTPC’s main business is to generate and sale of electricity to state-owned power distribution companies and State Electricity Boards in India.

About JBVNL:

  1. JBVNL stands for Jharkhand Bijli Vitran Nigam Limited.
  2. It is directly connected to general consumers of energy availing bodies.
  3. It established on 6th January 2014 after unbundling of Jharkhand State Electricity Board.
  4. JBVNL maintains the power supply throughout the state as a distribution license.

What is Joint Venture?

  • A joint venture (JV) is a business agreement in which the parties agree to develop a new things and new resources by contributing impartiality for a fixed time.
  • They share their incomes, expenses and resources for this fixed time.

About agreement:

  1. NTPC Limited has signed an agreement with Jharkhand Bijli Vitran Nigam Limited (JBVNL) to form a joint venture (JV) company for Patratu Power Plant.
  2. The agreement will help improve utilisation of performance, assets and expand capacity of Patratu Thermal Power Station located in Ramgarh district of Jharkhand.
  3. JBVNL will have the rest 26 per cent stake while the JV Company will have 74 percent share or stake of state-run NTPC.

- Published on: August 4, 2015