The Navratna PSU plans to buy at least one overseas coal mine in the current financial year (2009-10) as some of its projects are facing acute coal shortages. And as the firm plans to add more than 20,000 mw capacity by 2012, it is exploring ways to secure a stable source of energy.

‘‘In all likelihood the the merchant banker would be finalised in December and then the company would see whether it is feasible to buy or pick up equity stake in the coal blocks there,’’ a company official said.

The country’s largest power generation utility is also scouting for coal blocks in Australia and Mozambique. It is looking at blocks that can give up to 20 million tonne of dry fuel per year.

NTPC has already appointed Australian firm Macquarie as consultant to do the due diligence for acquiring coal mines in Indonesia. NTPC would buy a minority stake in the Kalimantau coal mines in Indonesia to achieve fuel security.