October 1, 2012
NTPC, is floating a joint venture as part of its plan to foray into electricity distribution. The company’s distribution arm, NTPC Electric Supply Co Ltd (NESCL), has invited bids from power distribution licensees with five years of experience.
NESCL intends to undertake electricity distribution to end consumers, including domestic, commercial, industrial and agriculture units, in some states. The distribution business will be undertaken through a new entity, to be owned jointly by NESCL and its partner. The JV may also bid for distribution licensee contracts of states.
NESCL has floated an expression of interest inviting companies with a minimum average net worth of Rs 500 crore in the three preceding financial years. The selection of a partner will take about three months.