India Power Corporation has signed pact with French energy major Engie, to acquire the latter’s 89% stake in Hyderabad-based Meenakshi Energy (MEPL).
MEPL is the thermal power outfit of Meenakshi Group with presence in hydroelectric and biomass-based power generation and other infrastructure sector. MEPL runs a 300 MW coal fired capacity at Krishnapatnam.
India Power Corporation (formerly DPSC) is an integrated energy provider with present operations spread over various states of the country.