GMR Energy, a subsidiary of GMR Infrastructure, has entered into a share purchase and joint venture agreement to acquire 80% stake in Kathmandu-based Himtal Hydro Power. According to a release issued by GMR to the BSE today, Himtal has a survey licence issued by the department of electricity development, government of Nepal to undertake the feasibility and environmental impact assessment studies for setting up a 250 Mw Upper Marsyangdi - 2, a hydro power project, located in Nepal. The company said necessary applications have been submitted to the investment promotion board, department of industries of the government of Nepal for their approval. GMR Energy manages six projects -- 220 Mw barge-mounted power plant near Mangalore, 200 Mw plant at Chennai, 388.5 Mw plant at Vemagiri in Andhra Pradesh and 140 Mw plant at Alaknanda, Uttarkhand. It is also developing a 1000 Mw thermal power plant at Dhenkal in Orissa and a 160 Mw hydro power plant at Talong in Arunachal Pradesh.
