This is the country’s cheapest purchase of any power plant. The deal stands at Rs 2 crore per MW, Punjab CM Bhagwant Mann said on January 1
Punjab Chief Minister Bhagwant Mann on December 16 announced through his Twitter handle that the state government would be acquiring a private thermal power plant in the state.
A sudden increase in temperature has led to increased demand for electricity, while a scarcity of coal is increasing costs. These two factors could lead to outages this summer.
This development comes a week after the Central Bureau of Investigation (CBI) registered a case of cheating and forgery against the GVK Group, its promoter GVK Reddy, Sanjay Reddy, MIAL and nine other companies for causing a loss of Rs 705 crore to the government
The company had posted consolidated loss of Rs 122.61 crore in the year-ago period, GVK Power and Infrastructure said in a filing to BSE.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Reliance Industries, Torrent Power and Strides Shasun and can sell Union Bank of India.
The Supreme Court recently extended benefits of the liberalised airport land monetisation policy to existing developers as well.