MUMBAI: Indonesian coal miner Adaro, Adani PowerNSE 0.76 % and state-run NLC India are among a dozen companies that have expressed interest in buying IL&FS Tamil Nadu Power and related assets of the debt-laden IL&FS group, two people familiar with the matter said.
Along with the thermal plant in Cuddalore, the group is looking to sell its stake in a captive port associated with the power company. Also on the block is a Singapore-based investment vehicle, ILFS Maritime Offshore Pte Ltd, which owns a coal mining company in Indonesia.
The power plant currently has a capacity to produce 1,200-MW, which can be increased by another 2,700 MW. The captive port, Porto Novo Maritime, is used for the import and transfer of coal to the plant. Arpwood and JM FinancialNSE -0.13 % are advising on the bids while Alvarez & Marsal is its resolution consultant.
