Lanco Infratech, Gurgaon-based power, mining, and construction company, is planning to offload part of its equity in Udupi Power Corporation.

In this regard, the company is in talks with four firms including Kolkata-based CESC. The Udupi Power Corporation has set up a thermal power project with a capacity of 1,200 MW at Nandikur near Padubidri, in Udupi district of Karnataka, at a cost of Rs 6,002 crore.

Further, Lanco is looking at a valuation of around Rs 3,000 crore for the imported, coal-based thermal power project. For the purpose, the company has recently sold a 70 MW Lanco Budhil hydropower project and two smaller plants of five MW each, in Himachal Pradesh, to Hyderabad-based clean energy producer, Greenko Energies, for € 77 million (approx Rs 652.49 crore).

The selling of Udupi Power Corporation is part of the company's corporate debt restructuring (CDR) strategy.