NTPC-GE Power Service’s 50% Equity Stake now acquired by GE Power

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“Board of directors of GE Power India Ltd in its meeting held on 14 April, 2021 has approved acquisition of 50 per cent of the issued and paid-up share capital of NTPC GE Power Services Pvt Ltd,” a BSE filing said.

The acquisition of shares of NGSL from GE Power Systems GmbH is a related party transaction as the Company and GE Power Systems GmbH are GE Group Affiliates.

Upon completion of the acquisition of shares from GE Power Systems GmbH, the company would enter into renovation and modernisation of thermal power plants segment and partner with NTPC Limited, which is a PSU and a pioneer in thermal power plants.