NTPC has signed an agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to jointly own Chhabra Thermal Power Plant in Rajasthan. The JV agreement between the two entities was signed on 04 October, 2024 for a 50:50 partnership. RVUNL has a 2,320 MW plant at Chhabra.

Both parties have mutually agreed to form a JV company, which will own and operate the said power plant. It will also explore opportunities for its capacity expansion.

As per the agreement, both entities have equal rights to appoint directors. However, the management control will remain with NTPC.