The Rajasthan government has said that it has agreed to transfer its 1,000 MW Chhabra thermal power plant to NTPC Ltd, in an asset-for-equity deal. AES India, Adani Power and Tata Power-ICICI were also in the race for acquiring the Rajasthan power project. A statement from the Rajasthan government said that eventually two more units of 660 MW each will be transferred to NTPC after their completion. “After the transfer of the Chhabra thermal power plant to NTPC, the state government will receive equity as per latest valuation, and the losses being incurred from Chhabra will stop after transfer of the plant, and debt liabilities of the state government shall also be reduced,” said the statement.