Statkraft in advanced talks to buy Lanco Infratech’s hydel power unit

The unit houses two projects that have the capacity to produce 152 megawatts of hydro power

Synopsis
This is Statkraft’s second attempt at acquiring the company. It had conducted detailed studies of the company’s projects three years back but failed to arrive at a deal with its lenders.

New Delhi: Oslo-headquartered Statkraft is in advanced talks to buy Lanco’s under-construction hydel power unit, Lanco Mandakini Hydro Energy, according to multiple people aware of the matter.The Norwegian state-owned company, which is arguably the largest generator of renewable power in Europe is negotiating with a bankers consortium led by Axis Bank to buy the unit. The bankers are looking to recover ₹1,300 crore from the sale, the total debt

Mohit Bhalla

ET Bureau

3 mins read, Last Updated:

Jan 12, 2021, 07:20 AM IST

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