Adani, Jindal Power may join race for Hiranmaye Energy: Sources
Adani Power and Jindal Power are among companies likely to show interest in acquiring Hiranmaye Energy, a thermal power company which was recently admitted for corporate insolvency, said people aware of development. Hiranmaye Energy, formerly India Power Corp (Haldia), was admitted for corporate insolvency early this month at the behest of a petition filed by REC.
The company has principal loans of Rs 2,000 crore with REC and Power Finance Corp (PFC) as prominent lenders.
It had three units of 150 MW each located in Haldia, Kolkata, but at present, only two units are operational, and one unit is under construction. It had signed a 25-year power purchase agreement with the West Bengal government in 2017 and has a coal procurement agreement with Coal India.
