Hindustan Power looking to acquire stressed thermal power plants

Hindustan Powerprojects is looking to acquire stressed thermal power plants, besides bidding for renewable energy projects in India. The private power producer, which had earlier put in a bid for Avantha Power’s 600 Mw Jhabua power plant, has no plans to expand its capacity through new projects but is open to buys.  

With 6,000 Mw of power generation capacity, the firm has presence across thermal, hydro and solar power sectors. “We will bid for multiple assets (that will undergo a resolution process under the Insolvency and Bankruptcy Code). There would be enough interest from bidders, but there won’t be any over-exuberance.