The other companies that have shown interest are Hindustan Power, Shyam Sel and Power, Orissa Metaliks, Rungta Mines and Damodar Valley Corp, the people cited above said.
Hiranmaye Energy, undergoing corporate insolvency, owns three 150 mw units located in Haldia, of which two are operational and one is under construction. The reserve price of ₹1,300 crore for two operations of 300 mw equates to ₹4.33 crore per megawatt.
Shyam Sel & Power had the highest offer of ₹1,200 crore among eight bidders. The offer does not include ₹200 crore cash in the company.
Madan Bhuvan, the resolution professional, Vedanta, Jindal Power and CESC did not respond to ET’s requests for comments.
Hiranmaye Energy signed a 25-year power purchase agreement with the West Bengal government in 2017 and has a coal procurement agreement with Coal India. BHEL has designed and built the plant. The company received 31 expressions of interest in July and eight resolution plans at the end of August.In January, the Kolkata bench of the National Company Law Tribunal appointed Bhuvan Madan as a resolution professional, who will be supported by a team from EY led by Pulkit Gupta, partner at the consulting firm.The RP has admitted verified claims of ₹5,291 crore. REC, Power Finance Corp and RBL Bank are among the lenders to the thermal power company.
