New Delhi, India | India’s largest power generation company, NTPC Limited, has announced that it will acquire the remaining 26% equity stake in NTPC EDMC Waste Solutions Private Limited (NEWS) from the Municipal Corporation of Delhi (MCD), making the waste-to-energy company a wholly-owned subsidiary of NTPC.
The development follows the signing of a termination agreement on May 7, 2026, between NTPC, MCD, and NTPC EDMC Waste Solutions Private Limited, formally ending the Joint Venture Agreement originally executed on June 11, 2019.
The disclosure was submitted to the BSE Limited and the National Stock Exchange of India Limited under the Securities and Exchange Board of India (SEBI) Listing Regulations.
NTPC to Buy Remaining 26% Stake
Under the agreement, NTPC will purchase MCD’s entire 26% equity holding in NEWS, comprising 52,000 equity shares. The acquisition will be completed through a cash transaction valued at approximately ₹5.2 lakh, based on the face value of ₹10 per share.
Following completion of the transaction, NTPC EDMC Waste Solutions Private Limited will become a fully owned subsidiary of NTPC.
The acquisition is expected to be completed during the first quarter of the financial year 2026–27 after fulfilling all procedural formalities and regulatory requirements.
Strategic Move to Expand Waste-to-Wealth Operations
The move is part of NTPC’s broader strategy to strengthen and consolidate its Waste-to-Wealth business segment, an area that has gained increasing importance amid India’s focus on sustainable urban development, renewable energy, and scientific waste management.
By taking full control of NEWS, NTPC aims to accelerate project execution, improve operational flexibility, and expand its role in converting municipal waste into usable energy resources.
The company has been actively diversifying beyond conventional power generation into renewable energy, green hydrogen, waste management, and circular economy initiatives as part of its long-term sustainability roadmap.
Background of the Joint Venture
NTPC EDMC Waste Solutions Private Limited was incorporated on June 1, 2020, as a joint venture between NTPC and the Municipal Corporation of Delhi to undertake waste management and energy generation activities in the national capital.
The company was established with the objective of supporting scientific disposal of municipal solid waste while simultaneously generating energy from waste materials, contributing to cleaner urban infrastructure and reduced landfill dependency.
According to company disclosures, NEWS reported a turnover of ₹0.34 lakh in FY 2022–23, ₹0.29 lakh in FY 2023–24, and ₹1.28 lakh in FY 2024–25, indicating gradual operational progress during the initial development phase of the project.
Regulatory and Governance Details
NTPC stated that the transaction qualifies as a related-party transaction under SEBI regulations. However, it is exempt from Audit Committee approval requirements because the deal is being executed between a listed public sector enterprise and a government/local authority entity.
The company also confirmed that all necessary approvals from the boards and governing authorities of both NTPC and MCD have already been obtained.
Industry analysts believe the acquisition reflects NTPC’s growing commitment to environmentally sustainable business models and highlights the increasing role of public sector enterprises in India’s clean energy and urban waste management ecosystem.
