Insta
Stressed Power Assets Find A Lifeline In Form Of Hindustan Power, Will Bid For Multiple Assets
Swarajya Staff
Sep 14, 2018, 09:07 PM | Updated 09:07 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Hindustan Power is looking to acquire stressed thermal power plants, Business Standard has reported. It will also bid for renewable power projects. The private power project had earlier expressed interest in Jhabhua Power Plant belonging Avantha Power. The firm has a total power capacity of 6,000 MW in hydro, thermal and solar power sectors.
“We will bid for multiple assets (that will undergo a resolution process under the Insolvency and Bankruptcy Code). There would be enough interest from bidders, but there won’t be any over-exuberance. We believe there will be rational bidding,” Chairman of Hindustan Power Ratul Puri told Business Standard.
Further, he said that the price discovery by bidders had happened outside National Company Law Tribunal (NCLT). He said the bid by the company could go down because there was a chance of cancellation of power purchase agreements with the power plants which are existing. In solar power, the chairman said that his company was looking for new projects.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.