POWER

NTPC, REC to bid for discoms in Union Territories, according to sources

NTPC, the country’s largest power producer, and sectoral financier REC Ltd will enter power distribution ahead of the government’s mega privatisation push in the segment.

The two companies will start with putting in bids for privatisation of discoms in Union Territories, said people aware of the matter. The Union power ministry has suggested to the two companies that they should participate in the upcoming bidding for privatisation of distribution companies in UTs, they said.

The ministry has asked the two state-run firms’ wholly owned subsidiaries NTPC Electric Supply Company Ltd (NESCL) and REC Power Distribution Company Ltd (RECPDCL) to initiate measures according to their Articles of Association and Memoranda to consider participating in bids for distribution and supply of electricity of discoms, said the people in the know.

Source
ET Energy World
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