NTPC Waived From Equity Cap Guidelines For Bidding

New Delhi: In a move that could give greater operational flexibility for power major NTPC Ltd, the Centre has freed the State-owned utility from the Rs 1,000-crore investment cap in firming up alliances or setting up subsidiaries to bid for power projects. The Cabinet Committee on Economic Affairs on March 27 gave its approval to waive the ceiling for equity investment by NTPC to set up financial joint ventures and wholly-owned subsidiaries in India or abroad for participating in bidding called by state utilities and distribution licensees. The clearance would facilitate participation of NTPC in bidding for the development of power projects initiated by Government utilities and result in greater competition and establishment of more public sector power projects, the spokesperson said after the CCEA meeting