NTPC signed agreement with JBVNL to form Joint Venture for Patratu Power Plant [ Current News (Concise) ]
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.
- JBVNL stands for Jharkhand Bijli Vitran Nigam Limited.
- It is directly connected to general consumers of energy availing bodies.
- It established on 6th January 2014 after unbundling of Jharkhand State Electricity Board.
- 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.
- NTPC Limited has signed an agreement with Jharkhand Bijli Vitran Nigam Limited (JBVNL) to form a joint venture (JV) company for Patratu Power Plant.
- The agreement will help improve utilisation of performance, assets and expand capacity of Patratu Thermal Power Station located in Ramgarh district of Jharkhand.
- 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/Last Modified on: August 4, 2015