GMR buys 5% stake in SA-based coal firm

  GMR Energy currently has three power plants operational generating 800 MW, none of which are on coal. In addition to the two thermal projects, GMR Energy is tying up four more projects across India.

According to a statement from GMR Infrastructure, Homeland Mining holds license for several coal mining projects in South Africa. "This acquisition would ensure fuel security for GMR Group's power projects in India and such a transaction also acts as a catalyst in the development of the energy business of the Group," the statement added.