GAIL bags 26% stake of IL&FS in ONGC Tripura Power Co

11 Jan 2022 CW Team

Gas Authority of India Limited (GAIL) said that the company has completed acquiring Infrastructure Leasing and Financial Services (IL&FS) 26% stake in Oil and Natural Gas Corporation (ONGC) Tripura Power Company Limited (OTPC).

Tripura Power Company is a Special Purpose Vehicle (SPV) set up by ONGC to build a 726.6 MW combined cycle gas turbine (CCGT) thermal plant in Tripura. IL&FS and the Tripura government were in partnership in the SPV.

ONGC holds 50% interest in the company's electricity supplies project to the North-East states, the state government holds 0.5%, while India Infrastructure Fund II holds the rest 23.5% stake.

According to a report, GAIL and IL&FS completed the transaction. GAIL had acquired a 26% stake of IL&FS Energy Development Company Limited (IEDCL) and IL&FS Financial Services Limited (IFIN) in OTPC.

Last year in November, GAIL received approval from the National Company Law Tribunal (NCLT) for the acquisition of stake.

The thermal power project was aiming to produce natural gas, which is economically unviable to transport gas. ONGC supplies gas to Tripura through a 55 km pipeline.

OTPC's 726.6 MW project is an effort to develop infrastructure in the North-East region of the country and has become the single-largest investment in the region.

GAIL aims to build a clean energy portfolio, and the acquisition is a part of the green energy plan.

Image Source

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..