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NTPC Considers Stake Buys in Indonesia Coal Mines MUMBAI -- State-run NTPC Ltd. is considering buying stakes in two coal mines in Indonesia with coal resources of about 1.8 billion metric tons in the current financial year, to secure coal supplies for its power plants, said Chairman R.S. Sharma Monday. India's domestic coal production is expected to rise over the next few years, but will still fall short of the power sector's massive demand, forcing companies such as NTPC to increasingly rely on imported coal. The anticipated shortfall in domestic coal is also prompting power companies to secure coal assets in Indonesia, Mozambique and Australia. "We are taking a view on two coal mines in Indonesia. (One is located) southeast of Kalimantan with 1 billion tons of coal resources and (the other is located at) Sumatra with 800 million tons," Mr. Sharma said. NTPC is focussing on Australia and Indonesia for acquisitions, he said. Coal from the Indonesian mines is high in moisture content and so the Indian company is studying ways to use the coal through processes such as blending, Sharma said. "We will take a call (on how to use the coal)," he said. Mr. Sharma added that he hopes the deals will be finalized by March. NTPC currently has a generation capacity of 32,194 megawatts and expects to touch a generation capacity of 75 gigawatts by 2017. By 2032, it is targeting 128 GW in capacity generation. Largely a coal-based power producer, the company has made a small foray into renewable energy, while it gets coal supplies from state-run Coal India Ltd. The power producer needs about 155 million tons of coal in the current financial year that began April 1, of which it plans to import 12 million tons to meet the needs of its power plants. The company's coal imports may grow to 15 million tons next year as its coal demand will likely rise to 165 million tons. NTPC plans to invite offers from overseas miners willing to sell a stake in their mines and plans to meet 40%-60% of its imported coal needs through direct imports, Sharma said. NTPC has been importing coal through state-trading firms State Trading Corp. and Mines and Minerals Trading Corp, but will shortly float a tender to import coal directly for the first time to meet its needs for the next financial year. NTPC has signed an initial pact with Bangladesh Power Development Board to form an equal joint venture to set up two 1,320 megawatt power plants in Bangladesh for about 140 billion rupees ($2.99 billion), India's Power Secretary P. Uma Shankar said Monday. Mr. Shankar said that feasibility studies for the power plants--planned at Khulna and Chittagong--are expected by January, 2011. According to World Bank's 2010 economic update, the estimated demand-supply gap for power in Bangladesh is about 2,000 MW during peak hours. NTPC also expects to sign a pact for a 500 MW coal-fired power plant in Sri Lanka. Meanwhile in India, NTPC's Sharma said the company has offered a stake in its 350 MW gas-based Kayamkulam power plant in the southern state of Kerala to Qatar Petroleum in exchange for gas supplies. India faces a gas deficit and is trying to ramp up supplies to meet demand from various sectors, including power. "We are expanding our Kayamkulam power plant by 1,050 MW and have offered a stake to Qatar Petroleum in the expanded plant," said Mr. Sharma, "the gas that we would get from Qatar could be used for further expansion of Kayamkulam or for some other plants." NTPC may allow Qatar Petroleum a stake of up to 49% in Kayamkulam, he added. The Indian company may also sell a stake in its Ratnagiri gas-based power plant to Qatar Petroleum for gas, Mr. Sharma said. NTPC has a 30% stake in Ratnagiri Gas and Power Pvt. Ltd., while GAIL Ltd. has 30% and the rest is held by institutional shareholders.
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