MAHAGENCO-NTPC consortium top bidder for Sinnar Thermal Power plant
A consortium of Maharashtra’s state-owned MAHAGENCO and NTPC has emerged as the top bidder to acquire the 1,350 MW Sinnar Thermal Power plant near Nashik, with a bid of Rs 38 billion, surpassing Adani Power in the initial bidding round.
The consortium could potentially leverage its existing 2,190 MW Koradi power plant near Nagpur to supply coal and operate the Sinnar facility.
The plant, originally developed by Indiabulls Power and currently a subsidiary of RattanIndia Power, was admitted to insolvency in January. Other contenders in the bid include Vedanta Group, Jindal Power, Orissa Metaliks, and VFSI Holdings, a Singapore-based subsidiary of Varde Partners, all competing to take over the distressed asset.