INDRAPRASTHA POWER GENERATION COMPANY LIMITED

What INDRAPRASTHA POWER GENERATION COMPANY LIMITED does

Indraprastha Power Generation Company Limited (IPGCL) is a state-owned power generation utility established on July 1, 2002 by the Government of NCT of Delhi (GNCTD) following the unbundling of the Delhi Vidyut Board. The company operates an installed generation capacity of 994.5 MW across a portfolio of gas-based and coal-based thermal assets within and around Delhi, including Pragati Power Station I (330 MW gas-based CCGT at Bamnauli), Indraprastha Gas Turbine Power Station, Indraprastha Power Station (247.5 MW coal-based, being decommissioned), and Rajghat Power House. IPGCL's stated mission is to make Delhi power surplus, and it is expanding capacity through three principal build vectors: the 1,500 MW Pragati-III CCGT project at Bawana (mega power project status, EPC by BHEL), a 25% stake in the 1,500 MW Indira Gandhi Super Thermal Power Station at Jhajjar via the Aravali Power Company JV with NTPC and HPGCL (Delhi's share: 750 MW), and a proposed 750 MW Pragati-II project. The company also holds joint allocation of the Mara-II Mahan Coal Block in Madhya Pradesh via the Yamuna Coal Co. JV with HPGCL to secure pithead fuel economics.

IPGCL's generation technology stack centers on combined cycle gas turbines (CCGT) and conventional coal-fired thermal units, with the distinction of being the first utility in India to install Dry Low NOx (DLN) burners (at Pragati Power Station). All three operating stations are certified to ISO-9001:2000 (Quality), ISO-14001:2004 (Environment), and OHSAS-18001:2007 (Occupational Health & Safety), and the fleet has achieved 100% fly ash utilization. Internal operations are supported by PARIVARTAN, a turnkey SAP-ERP system implemented with SAP and NICSI and went live in October 2009, covering Material Management, Plant Maintenance, Finance, HR, Project Systems, and Business Intelligence.

IPGCL's commercial model is regulated and government-anchored: electricity is sold exclusively to state power distribution companies through long-term Power Purchase Agreements under a regulated tariff framework. The principal off-taker is the Government of NCT of Delhi, with secondary PPAs executed with the Haryana Power Purchase Centre and the Punjab State Electricity Board for portions of the Pragati-III output. As a GNCTD undertaking, IPGCL pays dividends to the Government of Delhi and is governed by the Delhi Power Department; it carries no public shareholding and operates within a planned, state-directed capex envelope rather than a competitive market. A proposed merger with subsidiary Pragati Power Corporation Limited (PPCL), approved by the Delhi Cabinet in April 2013 and by the IPGCL/PPCL boards in August 2014, is intended to consolidate Delhi's state generation assets under a single corporate vehicle.

Name

INDRAPRASTHA POWER GENERATION COMPANY LIMITED

Legal name

Indraprastha Power Generation Co. Ltd.

Website

https://pragatipower.nic.in

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

IPGCL is a GNCTD-owned power generation utility operating ~994.5 MW of gas and coal-based thermal capacity in and around Delhi, supplying electricity exclusively to state distribution companies (primarily the Delhi government) via regulated tariff Power Purchase Agreements.

Ownership category

akta.pro rank

Product category

Power Generation Services

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111), Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911)

akta.pro industry

PRIMARYEUACABAI

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield)

Energy, Utilities & Environment/Electric Power Generation/Natural Gas-Fired Power Generation (CCGT/OCGT)

SECONDARYEUACAAAE

Integrated Gasification Combined Cycle (IGCC) Coal Power Plants

Energy, Utilities & Environment/Electric Power Generation/Coal-Fired Power Generation

SECONDARYEUAMABAA

Solar Project Development & IPP (Utility-Scale & Rooftop)

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Solar Energy (PV, CSP, Rooftop & Utility-Scale)

Keywords

• Thermal power generation
• Gas-based power generation
• Power purchase agreements
• Electricity generation services
• State power utility

Headquarters

HQ city

Delhi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Others

Revenue model

1. Electricity Generation and Supply: IPGCL generates electricity through its thermal power stations and supplies power to the Delhi government and other state power distribution companies through regulated tariff arrangements under Power Purchase Agreements.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

IPGCL is a state-owned power generation utility that generates electricity through thermal power stations (gas-based Combined Cycle and coal-based) with an installed capacity of 994.5 MW and 3000 MW capacity addition in pipeline. The company supplies power to the Government of NCT of Delhi and neighbouring state power distribution utilities under long-term Power Purchase Agreements at regulated tariffs. It also participates in joint venture power projects (Indira Gandhi STPP at Jhajjar) and coal block development (Mara-II Mahan via Yamuna Coal Co. Pvt. Ltd.) to support future capacity expansion.

Product overview

INDRAPRASTHA POWER GENERATION COMPANY LIMITED (IPGCL) operates as a state-owned power generation utility for Delhi, India, established on July 1, 2002 after the unbundling of Delhi Vidyut Board. The company's product portfolio consists of multiple thermal and gas turbine power stations including Pragati Power Station I (330 MW at Bamnauli), Pragati Power Station III (1500 MW at Bawana), Indraprastha Gas Turbine Power Station, Indraprastha Thermal Power Station (247.5 MW, being decommissioned), and Rajghat Power House. The company also participates in joint venture projects including Indira Gandhi Super Thermal Power Station (1500 MW at Jhajjar) and coal block development for future capacity expansion. Current installed capacity is approximately 994.5 MW with 3000 MW in pipeline. IPGCL has also implemented PARIVARTAN, an internal SAP-ERP system for enterprise operations management. Renewable energy services are offered as part of the green energy initiative.

Differentiator

Problem solved

Functional benefit

Products and services

• Pragati Power Station I (PPS-I) A 330 MW gas-based combined cycle power station at Bamnauli, Delhi, commissioned in 2002-03. Achieved 100.4% PLF during January 2005 and 88.27% PLF (Deemed PLF 95%) during 2004-05. Pragati Power Corporation Ltd. has paid dividends from revenues generated by this station.
• Pragati Power Station III at Bawana (PPS-III) A 1500 MW (nominal) gas-based combined cycle power plant located at Bawana in North West Delhi. Granted mega power project status by Government of India, EPC contract awarded to BHEL. Power Purchase Agreements executed for 10% supply to Haryana Power Purchase Centre and 10% to Punjab State Electricity Board. Gas Sale Agreement signed with GAIL, IOC, and BPCL as off-takers.
• Indraprastha Gas Turbine Power Station (GTPS) A gas turbine power station commissioned in 1985-86. Performance improved from 47.24% PLF in 2001-02 to 70.76% (deemed PLF 75.35%) in 2005-06. Achieved highest ever daily generation of 5.743 MU (84.86% PLF) on 26 December 2005 and highest ever monthly generation of 166.227 MU (79.23% PLF) in October 2005.
• Indraprastha Power Station (I.P. Station) Coal-based thermal power station of 247.5 MW capacity located in the heart of Delhi, currently being decommissioned as part of environmental initiatives. Generated 984.748 MU (45.42% PLF) during 2005-06, its best performance since 1997-98. New Electrostatic Precipitators installed to meet stringent pollution norms of 50mg/Nm3.
• Rajghat Power House (RPH) Operating power station where chronic problems of high axial shift/vibration in turbine of both units were rectified. Now generating at more than 80% PLF with forced outages reduced from 18.5% to 5.63%. Houses employee facilities including dispensary and Vidyut Vihar Colony residential quarters.
• Indira Gandhi Super Thermal Power Station (Delhi's share) A 1500 MW coal-based super thermal power project at Jhajjar, Haryana, established by Aravali Power Company Pvt. Ltd. (JV between NTPC 50%, IPGCL 25%, HPGCL 25%). Delhi receives 750 MW from this project starting 2010-11.
• Renewable Energy Services Renewable energy solutions offered as part of IPGCL-PPCL's energy portfolio, including solar projects and environmental sustainability programs. The company has been pushing Green Energy initiatives for Delhi under the leadership of CMD Varsha Joshi.

Quantifiable outcome

• PLF improved from 49% (2001-02) to 63.26% (2009-10)
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered major and core.

• NICSI (National Informatics Centre Services Inc.)majorImplementation/ SI/ Consulting Partner · 9 February 2009Launched PARIVARTAN - the Turn Key Project to Implement SAP-ERP in IPGCL-PPCL. NICSI provided implementation support for the ERP system go-live achieved in October 2009.
• SAPmajorTechnology or Integration · 9 February 2009Technology partner for PARIVARTAN ERP implementation. SAP modules including Material Management, Plant Maintenance, Finance, Human Resource, Project Systems and Business Intelligence were successfully implemented.
• BHEL (Bharat Heavy Electricals Limited)coreStrategic or Co-development Partner · 25 March 2008Turn-key order for Pragati-III Power Project (1500 MW) at Bawana placed on BHEL. BHEL is responsible for EPC contract for the mega power project which received mega power project status from Government of India.
• GAIL India LimitedcoreOthers · 9 October 2007Gas Sale Agreement signed for 1500 MW (Nominal) Pragati III Power Project at Bawana. GAIL is one of the off-takers along with IOC and BPCL for the gas supply agreement.
• IOC Limited (Indian Oil Corporation Limited)coreOthers · 9 October 2007Gas Sale Agreement signed as off-taker for Pragati III Power Project. IOC is one of the three off-takers along with GAIL and BPCL.
• BPCL (Bharat Petroleum Corporation Limited)coreOthers · 9 October 2007Gas Sale Agreement signed as off-taker for Pragati III Power Project. BPCL is one of the three off-takers along with GAIL and IOC.
• Aravali Power Company Pvt. Ltd.coreStrategic or Co-development PartnerJoint venture company formed for Indira Gandhi Super Thermal Power Project (1500 MW) at Jhajjar, Haryana. Equity sharing: NTPC 50%, IPGCL 25%, HPGCL 25%. Delhi receives 750 MW from this project.
• NTPC Ltd.coreStrategic or Co-development PartnerMajority equity partner (50%) in Aravali Power Company Pvt. Ltd. joint venture for Indira Gandhi Super Thermal Power Project. NTPC brings expertise in thermal power generation.
• HPGCL (Haryana Power Generation Corporation Ltd.)coreStrategic or Co-development PartnerJoint venture partner (25% equity) in Aravali Power Company Pvt. Ltd. and joint allocation of Mara-II Mahan Coal Block. Yamuna Coal Co. Pvt. Ltd. formed as joint venture for coal block development.
• Haryana Power Purchase CentremajorChannel Partner/ Reseller/ DistributorPower Purchase Agreement executed for supply of 10% power from Pragati-III project. Haryana Power Purchase Centre is a joint forum established for procuring power for Haryana.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Reliance Power Limited: Private-sector power generator with diversified thermal and renewable portfolio including large-scale coal and gas plants. Competes with IPGCL for power supply contracts and in fuel sourcing, but at significantly larger scale.
• JSW Energy Limited: Private-sector power generation company with thermal and renewable assets serving multiple state distribution companies. Comparable to IPGCL in business model (PPA-based generation) but operates at greater scale and with more modern, diversified fleet.
• Tata Power Company Limited: India's largest integrated private power company with generation, transmission, and distribution across thermal, hydro, solar, and wind. Overlaps with IPGCL in thermal generation and supplies power into the Delhi/NCR region, but operates at far greater scale and diversification.
• Adani Power Limited: One of India's largest private thermal power generators with significant coal-based capacity. Competes with IPGCL in merchant and PPA-based thermal generation, though at much larger scale (12+ GW) and with private-sector capital efficiency.

Direct peers

• SJVN Limited: Central public sector power generation company (hydro and solar) with state-owned ownership structure analogous to IPGCL. Comparable in serving multiple state distribution companies under long-term PPAs and being government-mandated to support national power security objectives.
• NTPC Limited: India's largest state-owned power generation company with diversified thermal, hydro, and renewable portfolio. NTPC is also IPGCL's JV partner (50%) in Aravali Power Company, making it the most direct comparable in scale, business model, and ownership structure.
• NHPC Limited: Central public sector hydropower generator under the Government of India. Comparable to IPGCL as another state-owned power generation utility with hydro and emerging renewable portfolio, serving multiple state distribution companies under long-term PPAs.
• India Power Corporation Limited: Regional power generation and distribution company historically linked to the erstwhile DVC/CESC group. Similar to IPGCL in operating a regional thermal generation portfolio supplying state utilities, though with added distribution operations in West Bengal.
• Damodar Valley Corporation (DVC): Statutory state-owned power generation utility serving eastern India, similar in structure to IPGCL as a government-owned multi-power-station generator with thermal generation portfolio. DVC operates comparable thermal plants serving multiple state distribution companies.
• Pragati Power Corporation Limited (PPCL): IPGCL's jointly controlled operating subsidiary that runs the Pragati Power Stations. PPCL shares leadership, staff, and assets with IPGCL and is slated for merger. Operates the same gas-based CCGT generation business with identical customers and PPA structures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/indraprastha-power-generation-company-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INDRAPRASTHA POWER GENERATION COMPANY LIMITED