Stressed Power Assets Find A Lifeline In Form Of Hindustan Power, Will Bid For Multiple Assets Representative image (Kashik Roy/India Today Group/Getty Images)

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.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber