Oil & Natural Gas Corporation Ltd.

ONGC, IL&FS Energy Development Company (IEDCL) and Government of Tripura, three promoters of ONGC Tripura Power Company (OTPC), have entered into definitive agreements with India Infrastructure Fund II by which the latter will be acquiring 23.5% stake in OTPC. The total consideration of the transaction is about Rs 426 crore.

Post this transaction, the shareholding in OTPC will stand as, ONGC - 50%, IEDCL - 26%, Government of Tripura 0.5% and India Infrastructure Fund II - 23.5%. This consummates the equity structure as was envisaged at the time of setting up the project.

OTPC has been promoted by ONGC, IEDCL and Government of Tripura for implementation of a gas based 726.6 MW combined cycle thermal power project at Palatana, Tripura.