IL&FS floats RFP to sell stake in Shendra Green Energy

Mumbai: IL&FS has floated a request for proposal for selling stake of IL&FS Energy Development Company Ltd (IEDCL) in Shendra Green Energy. “Shendra Green Energy Ltd (SGEL), a 100 per cent subsidiary of IEDCL, is inviting Request for Proposals (RFP) for potential stake sell of IEDCL stake in SGEL,” a public notice said. SGEL, formerly known as GAPS Power & Infrastructure, is a 13 mega watt biomass-based power plant incorporated on February 18, 2005 and situated at Shendra MIDC, Aurangabad, Maharashtra.

IEDCL acquired 100 per cent stake in GAPS from GMS Group in December 2010.

On October 12, 2006, SGEL had signed a power purchase agreement with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for 13 years and commercial operation started on December 7, 2008 after which it started selling electricity to MSEDCL, the group said.

It faced operational constraints mainly due to fuel (biomass) collection and storage related issues, and hence the operation of the plant was discontinued from June 2015.

On April 20, 2016, SGEL had notified MSEDCL to terminate the PPA, as per the notice. IL&FS has asked the eligible applicants to submit RFP by August 30, 2021.


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