Bajaj Hindusthan has informed the stock exchanges today that its board of directors has approved the transfer of a 430-mega-watt thermal power project to a wholly-owned subsidiary Bajaj Energy Private Ltd.
This has been done to implement the project, which comprises five plants of 90 mega watts each, via a special purpose vehicle. Bajaj Hindusthan will hold 26 per cent equity in the said SPV, it said.
