NTPC, GAIL sign deals for Ratnagiri Gas and Power and Konkan LNG
NTPC said that it has signed share purchase agreements with GAIL (India) for acquiring the latter’s 25.51% stake in Ratnagiri Gas and Power (RGPPL) and for selling its stake of 14.82% in Konkan LNG (KLL).
The Indian state-owned energy conglomerate said that following the transfer of shares as per the agreements, it will exit from Konkan LNG, while its stake in Ratnagiri Gas and Power will increase to 86.49%.
The financial terms of the two deals were not disclosed.
NTPC, GAIL sign deals for Ratnagiri Gas and Power and Konkan LNG. Photo courtesy of Edar from Pixabay.
Ratnagiri Gas and Power is the holding company of the 1.96GW Dabhol Power Company Project, an integrated thermal power generation and re-gasified LNG facility, in Ratnagiri district, Maharashtra.
Konkan LNG, on the other hand, is into liquefaction and regasification of natural gas. It was created by GAIL through a demerger from Ratnagiri Gas and Power.
Konkan LNG maintains an LNG terminal at Dabhol in the Konkan region in Maharashtra.