GVK Power and Infrastructure has unveiled plans to acquire two thermal power plants currently under construction in India.

The firm said it is evaluating the option for the acquisition but refused to share further details regarding as it is at an early but promising stage of the project, reports the Economic Times of India. The company also said it would not release the names of the projects, which are being developed by private power developers facing financial constraints.

GVK Power is currently engaged in the construction of four projects, including hydro and thermal energy, and aims to become a company with a generating capacity of 5,000MW in the next five years.

The projects under construction include the 330MW Alaknanda hydro facility in Uttarakhand, which is expected to be commissioned in 2013. The company has invested a total of Rs30bn ($617m) this development, which is 80% complete. GVK Power is also carrying out an 850MW hydro power project in Jammu, which will be commissioned in the next five years. Also underway is the 370MW Goriganga hydro development in Pittorgarh, Uttarakhand, which is expected to start power generation by 2013.

GVK said it has ventured into captive coal mining to fulfil the coal requirement of the Goindwal Sahib power plant and other future projects in northern India.

The firm operates three power projects with a total capacity of 900MW in Andhra Pradesh.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.