NHPC has signed definitive agreement for implementation of the approved resolution plan submitted by the company. The agreement is for takeover of Jalpower Corporation (JPCL), who was implementing 120 MW Rangit Stage-IV HE Project in Sikkim.
Earlier, National Company Law Tribunal (NCLT), Hyderabad bench has approved NHPC’s resolution plan for taking over Jalpower Corporation (JPCL) as going concern. The company will make upfront payment of Rs 165 crore and cost of the project is considered as Rs 943.20 crore.
NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.
