DVC highest bidder for Hiranmaye Energy assets

Damodar Valley Corporation (DVC) has emerged as the highest bidder in the auction for Hiranmaye Energy’s assets, offering Rs 15 billion, surpassing the reserve price of Rs 13 billion. 

This marks DVC’s first acquisition, adding to its total installed capacity of around 6,700 MW, including greenfield and brownfield expansions. 

Hiranmaye Energy operates a 300 MW thermal power plant in Haldia, West Bengal, with two units of 150 MW each. The company holds a 25-year power purchase agreement (PPA) with the West Bengal government and a long-term fuel supply agreement with Coal India.