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

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

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

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

Next Story
Equipment

SANY India Opens New 3S Branches in Visakhapatnam and Palwancha

SANY India, a leading manufacturer of construction, mining, road, logistics, and energy equipment, has expanded its presence in southern India by inaugurating two new 3S (Sales, Service, Spares) branch offices in Visakhapatnam (Andhra Pradesh) and Palwancha (Telangana). The expansion, in partnership with its authorised dealer Madhura Engineering Services, reinforces SANY’s commitment to providing world-class equipment and faster service access in key industrial and mining hubs.These new facilities complement Madhura Engineering’s existing branches in Guntur and Vijayawada, marking a strate..

Next Story
Real Estate

Compact Homes Lead Demand as Indian Housing Market Stabilises: Magicbricks

Magicbricks, India’s leading real estate platform, has released its PropIndex Report for July–September 2025, revealing signs of stabilisation in the housing market. Despite affordability pressures, housing demand grew 3.1 per cent QoQ, driven largely by compact homes. The share of 1–2 BHK units rose to 54 per cent of total demand, reversing a two-year decline and signalling renewed focus on affordability.While overall supply increased marginally by 1 per cent QoQ (–4.5 per cent YoY), property prices continued to rise. Pune (+41.4 per cent YoY), Mumbai (+29.6 per cent YoY), and Greater..

Next Story
Infrastructure Urban

Flytta Launches India’s First Retrofitted Electric Truck for the Heavy-Duty Segment

Flytta has unveiled India’s first retrofitted 13-ton payload capacity electric truck, specially designed for cement bag transportation across challenging ghat roads and industrial terrains. Developed by Kalyani Powertrain (KPTL)—the electric mobility arm of the Kalyani Group—the truck will operate with Dalmia Cement on the Yadwad–Goa corridor.This industry-first collaboration brings together Flytta’s sustainable logistics expertise, Kalyani’s engineering capabilities in EV retrofitting, and Dalmia Cement’s commitment to green manufacturing. The partnership marks a significant ste..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?