New Delhi (05.01.2022): GAIL (India) has bought the 26 per cent stake in ONGC Tripura Power Company (OTPC) held by IL&FS Enegry Development Company Ltd (IEDCL) and IL&FS Financial Services. ONGC Tripura Power Company is a 726.6 MW gas based power plant, it is owned and operated by ONGC.
In November, the National Company Law Tribunal (NCLT) had approved the acquisition of IL&FS’s 26 per cent stake in OTPC by GAIL. OTPC is a special purpose vehicle between Oil and Natural Gas Corporation (ONGC), IL&FS Group and Tripura government. ONGC already has fifty per cent stake in ONGC Tripura Power Company, this project supplies electricity to north eastern states. GAIL is focusing on building a clean energy portfolio and this acquisition is part of this plan.
New Delhi (05.01.2022): GAIL (India) has bought the 26 per cent stake in ONGC Tripura Power Company (OTPC) held by IL&FS Enegry Development Company Ltd (IEDCL) and IL&FS Financial Services. ONGC Tripura Power Company is a 726.6 MW gas based power plant, it is owned and operated by ONGC.
In November, the National Company Law Tribunal (NCLT) had approved the acquisition of IL&FS’s 26 per cent stake in OTPC by GAIL. OTPC is a special purpose vehicle between Oil and Natural Gas Corporation (ONGC), IL&FS Group and Tripura government. ONGC already has fifty per cent stake in ONGC Tripura Power Company, this project supplies electricity to north eastern states. GAIL is focusing on building a clean energy portfolio and this acquisition is part of this plan.
