Acquisition of GVK Power by PSEB

  • Approved by the Competition Commission of India.
  • Acquisition of 100% shareholding of GVK Power (Goindwal Sahib) Limited by Punjab State Power Corporation Ltd.

Punjab State Power Corporation Ltd:

  • Fully owned undertaking of the Government of Punjab.
  • Erstwhile Punjab State Electricity Board (PSEB), was a statutory body formed on 1¬†February 1959 under the Electricity Supply Act, 1948.
  • It was divided by the Government of Punjab in 2010 into Punjab State Power Corporation Limited (PSPCL) and Punjab State Transmission Corporation Limited (PSTCL).

GVK Power (Goindwal Sahib) Limited:

  • Incorporated in December 1997.
  • Wholly owned subsidiary of GVK Energy Limited which in turn is the subsidiary of GVK Power and Infrastructure Limited.
  • It is engaged in power generation through a 540 coal-based thermal power plant.
Posted in Current Affairs.