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GAIL (India) has bought the 26% stake in ONGC Tripura Power Company (OTPC) held by IL&FS Energy Development Company Ltd (IEDCL) and IL&FS Financial Services. ONGC Tripura Power Company is a 726.6 MW gas-based combined cycle power plant in Paltana, Tripura and is owned and operated by ONGC. Earlier on November 4, 2021, the National Company Law Tribunal (NCLT) had approved the acquisition of IL&FS’s 26% stake in OTPC by GAIL. The sale is part of bankrupt IL&FS Group’s monetisation plan. Before this in 2019, IL&FS had sold its 51% stake in seven operating wind power assets totalling 874 MW to Orix Corporation for Rs 806 crore.
