Indian state-run power companies close to buying Lanco asset

15 Dec 2022 CW Team

According to three government sources, four Indian state-run power companies are close to purchasing a 1,980-megawatt stranded power plant from the bankrupt conglomerate Lanco Infratech for 30.2 billion Indian rupees ($364.84 million), outbidding Adani Group and Reliance Industries.

According to the sources, the state companies - Power Finance Corp (PFC), REC, SJVN, and Damodar Valley Corp (DVC) - intend to acquire Lanco Amarkantak's coal-fired power plant in Chhattisgarh, central India. In response to Reuters' requests, none of the companies responded.

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