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Gayatri Projects up 5% on arm's PPA with Telangana power discoms

"Thermal Powertech Corporation India (TPCIL) has signed a long term power purchase agreement (PPA) with the Telengana power distribution companies," the Hyderabad-based infrastructure & construction company said in its filing.

February 19, 2016 / 12:32 IST
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Moneycontrol Bureau

Shares of Gayatri Projects rallied 5 percent intraday Friday after its subsidiary signed 8-year power purchase agreement with Telangana power distribution companies.

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"Thermal Powertech Corporation India (TPCIL) has signed a long term power purchase agreement (PPA) with the Telengana power distribution companies," the Hyderabad-based infrastructure & construction company said in its filing.

TPCIL is a joint venture between Gayatri Energy Ventures (a wholly owned subsidiary of Gayatri Projects) and SembCorp Utilities, which owns & operates a 1320 MW coal-fired power plant in Andhra Pradesh.