Under the terms of the MoA, NTPC will establish a joint venture with Jharkhand Bidyut Vitaran Nigam (JBVN) to expand Patratu station from 15% plant load factor (PLF) to 82% for immediate supply of more power to Jharkhand.
the partners will build the 4,000MW (5X800MW) expansion in two phases, with the first phase involving three 800MW (2,400MW) units planned to be completed in 2019-2020.
The second phase involving two more units is scheduled to be completed by 2024, reported IANS.
The power generation facility will be 74% owned by NTPC while JBVNL will own the remaining 26% stake.
The agreement is a part of the Jharkhand Government’s efforts to provide cheap and affordable power to households and farmers.
Jharkhand Chief Minister Raghubar Das said: "Jharkhand will become self sufficient in power sector in next five years."
The project is expected to lead to rapid industrialization, thus providing large-scale employment to in the state.
A Jharkhand Government official was quoted by The Economic Times as saying that the government has signed a memorandum of understanding to hand over 6,800 acres at Patratu to NTPC.l
