Adani and Jindal companies in competition to acquire GVK powers in Punjab

Punjabenews: Gautam Adani-led Adani Power and Naveen Jindal’s Jindal Power and Vedanta are among twelve companies that have expressed interest to acquire distressed producer GVK Power (Goindwal Sahib) power plant in Punjab. According to the information report, both companies of the power sector are interested in buying this company.

Significantly, due to the energy crisis in the country for some time, companies have been continuously increasing their investment in the power sector, in this sequence, Adani Power acquired two companies related to the power sector infrastructure recently.
JPL and Adani Power have shown keen interest in buying this company’s thermal plant. However, there is no clear information about how much the deal will cost.
Goindwal Sahib Power Plant is a coal-based thermal power plant located at Goindwal Sahib in Tarn Taran district in the Indian state of Punjab. The power plant is currently operated by the GVK Group.