GMR Energy to finalise sale of 220 MW gas plant

The GMR Group is in advanced talks to sell its 220 MWgas-based power plant in Kakinada for $63 million. Though the plant has been operational since November 2001, it has not been generating energy since 2013 due to a shortage of natural gas. GMR Energy Limited (GEL) has entered into an MoU with the concerned party and is yet to finalise the asset sale. However, the company has not disclosed the name of the buyer.