NTPC and Maharashtra State Power Generation Company (MAHAGENCO) have signed a Shareholder Agreement (SHA) on January 2026 in Delhi in connection with acquisition of Sinnar Thermal Power (STPL), a company which is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC). The Resolution Plan submitted by the Consortium of MAHAGENCO and NTPC has been approved by the National Company Law Tribunal, Delhi, on November 28, 2025. 

STPL owns a coal based thermal power plant of 5X270 MW (1350MW) capacity at Sinnar, Nashik, Maharashtra. With this acquisition, the total installed capacity of NTPC group will become 86,987 MW and commercial capacity will become 85,907 MW. The acquisition is to be completed within 90 days from the date of NCLT’s approval order i.e. by February 26, 2026. Cost of acquisition (for the Consortium) is Rs 3800.14 crore. 

NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.