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NTPC to bid for stressed KSK Mahanadi thermal power project in Chhattisgarh

Business Standard  

State-owned NTPC will place a bid for the stressed 1,800 megawatt (MW) KSK Mahanadi thermal power project in Chhattisgarh. KSK Mahanadi is currently undergoing a corporate insolvency resolution process (CIRP) at the National Company Law Tribunal (NCLT).The company defaulted on bank loans amounting to INR 20,000 crore in 2018. The lead lender for the project is the state-owned Power Finance Corporation Ltd. Following this, the lenders initiated the debt restructuring through haircut and sale of the assets.Adani Power was one of the bidders for the project but it withdrew from the process in 2019.