GVK Goindwal Sahib project in Punjab is likely to see a lender swap with Deutsche Bank all set to replace existing senior lenders of the coal fired thermal project.
The project, which had to go tough times after its commissioning due to lack of coal supplies, has begun to generate power again after it secured fuel allocation under the Power Ministry’s Shakthi Scheme. The GVK project, which has secured a Tokisud coal mine in Jharkhand to be used as captive mine, had cancelled this after the Supreme Court decided to cancel all coal mine contracts following the mega coal scam.
This left the project stranded for several quarters before it secured coal allocation of 1.7 million tonnes from CCL and 6300 MT from SCEL enabling the plant to generate 804 million units during 2018-19, which is highest since commissioning.
