NLC India in talks to acquire Ind-Barath power plant

NLC India in talks to acquire Ind-Barath power plant

NLC India Ltd (earlier known as Neyveli Lignite Corp. of India Ltd) is in talks with Hyderabad-based Ind-Barath Power Infra Ltd (IBPIL) to acquire the latter’s coal-fired power plant in Odisha, two people aware of the development said.

The state-owned power producer is keen on acquiring Ind-Barath’s 700 megawatt (2×350 MW) power plant at Jharsuguda, Odisha, known as Ind Barath Energy Utkal Ltd, they said.

“Neyveli Lignite has been keen on acquiring power assets. In August, they had issued a tender inviting independent power producers and state electricity boards to apply with thermal power assets that they would like to sell. Ind-Barath was one of the parties that took part in the process, and Neyveli has shortlisted the Odisha asset as being of interest to them,” said one of the two people cited above requesting anonymity as the talks are private.

On 23 August, NLC India put out an invite for expressions of interest from companies owning coal- and lignite-based power plants of capacity of more than 200MW for possible acquisition. Read More…

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