GVK wants to sell Punjab unit to NTPC.

GVK Power & Infrastructure is looking to monetise its 540 MW Goindwal Sahib power plant in Punjab. The company is known to have approached state-owned power generator NTPC for a possible sale.

The plant has coal linkages with the Tokisud and Seregarha mines from Jharkhand. It is still under construction and is expected to commission in the first quarter of the coming financial year, according to a Prabhudas Liladher report. It also has a 25-year power purchase agreement with Punjab State Power Commission. The cost of setting up the project is around Rs. 2,000 crore.

'The talks are yet to begin on the deal but the paperwork has begun,' said a source. GVK said it would not comment on speculation when asked; NTPC did not respond to a query. But GVK is known to be interested in completely exiting the project.


BS