GVK Power & Infrastructure has informed that the Power Purchase Agreement (PPA) signed by GVK Industries, a step down subsidiary of the Company with the erstwhile APSEB (now AP Transco) stands expired by June 20, 2015 as it had completed its validity period of 18 years. In this regard, GVK Industries has received a notice from the AP Transco stating that they have exercised their option to ‘Buy Out’ its 217 MW (Phase 1) Power Plant situated at Jegurupadu Village, Kadiam Mandal, Rajahmundry, East Godavari District, Andhra Pradesh in terms of the provisions specified under the PPA.
The above information is a part of company’s filings submitted to BSE.
