The thermal power company has set itself a goal of generating 30,000 mw by 2007 and around 40,000 mw by 2012 and the money raised through the proposed sell off would be useful in making the fresh investment.

The company with sound debt:equity ratio has sufficient leverage to raise debt from the market, however this would be another source for financing its plans. Part of the money can also be used for the proposed takeover of the National Hydroelectric Power Corporation.

He said that the company is presently identifying the units which could be put on the block, he said, adding that these however, are going to be attractive for investment. Once the units are identified the power company would set up one or more subsidiaries to control the assets of these units. The subsidiary company would then offer 51 per cent to private partner, including foreign partner. The entire process would take around six months. This include three months to identify the units to be hived off and assets evaluation, he said. The company will then invite the joint venture partners. Profit-making NTPC is expected to generate good returns through this process, he said.