MoP asks gencos to consider acquiring stressed power assets

The Ministry of Power (MoP) has issued an advisory encouraging all states/generation companies (gencos) to participate in the corporate insolvency resolution process for taking over stressed thermal power assets.

The MoP has asked state-owned power gencos to consider acquiring 6.55 GW of stressed thermal power. State-owned gencos are advised to acquire stressed power assets through Insolvency and Bankruptcy Code under the National Company Law Tribunal route and contribute to the overall generation capacity of the nation. In the advisory, the MoP has attached an indicative list of stressed power assets which can be acquired by state-owned gencos. The list includes projects totalling 6.55 GW — Rattan India Power Limited 5×270 MW thermal power plant (TPP) (Maharashtra), Coastal Energen Private Limited 2×600 MW imported coal based TPP (Tamil Nadu), KSK Mahanadi Power Company Limited 6×600 MW TPP (Chhattisgarh) and Shri Maheshwar Hydel Power Corporation Limited 10×400 MW hydro power plant (Madhya Pradesh).