State-run NHPC Ltd is interested in acquiring Lanco Infratech’s 500 megawatt (MW) hydropower project on the Teesta river in Sikkim, said Balraj Joshi, chairman and managing director.
Lanco Infratech Ltd is undergoing insolvency proceedings, and is among the 12 non-performing asset (NPA) accounts referred to the National Company Law Tribunal (NCLT) by the Reserve Bank of India (RBI).
“The Testa-VI project is half completed and we are interested in reviving the project by participating in the expression of interest (EoI) process,” said Joshi.
Sources could not immediately reach out to Lanco Infratech for a comment.
Lanco Teesta Hydro Power Pvt Ltd is the firm setting up the project having four units of 125 MW each.
Joshi said NHPC cannot bid for the project under the current stipulation, with the public sector unit seeking a ‘solution’ from the government.
Source: Livemint, May 28, 2018