NTPC Ltd.

Country’s largest power producer, NTPC is mulling to exit from its proposed 500 MW coal power project, which was expected to be built in the Eastern province of Sri Lanka, due to disagreement with the fresh set of proposals forwarded by its joint venture partner, the Ceylon Electricity Board (CEB).

Further, NTPC in a letter to CEB chief on January 15, citing substantial changes agreed on the initial Power Purchase Agreement (PPA) has clearly denied the latter’s fresh terms and conditions.

NTPC and CEB, back in 2011, inked an agreement, for jointly setting up a 500-MW power project at Trincomalee at a cost of over Rs 4,000 crore. However, the project is yet to start owing to persistent differences between the two firms.