CLP International is picking up 12 per
cent equity Gujarat PowerGen Energy Corporation (GPEC) from Gujarat Power
Corporation Ltd (GPCL). GPEC is implementing the 645 MW expansion project at
the 655 MW Paguthan power plant at Bharuch in the State. The equity is
estimated to cost Rs.288 crore.
With this equity acquisition, GPEC will become a
wholly owned subsidiary of CLP International, which had earlier acquired 88 per
cent in the company from PowerGen Plc of the UK.