In a groundbreaking move, the Punjab State Power Corporation Limited (PSPCL) has successfully acquired GVK Group’s 540MW thermal plant at Goindwal Sahib in Tarn Taran district. Chief Minister Bhagwant Mann revealed this development during a press conference, stating that the acquisition cost stands at ₹1,080 crore.
Mann highlighted that this transaction marks the country’s most cost-effective purchase of any power plant, standing at an impressive ₹2 crore per MW. The thermal plant, established seven years ago, still boasts an operational life of 18 years.
The acquisition is poised to bring substantial economic benefits to the state, with Mann projecting savings ranging from ₹300 to ₹500 crore in generation costs compared to the expenses incurred under the previous power purchase agreement (PPA) with the GVK Group during the Shiromani Akali Dal-BJP government’s tenure.
Notably, probing existing PPAs was a key promise made by the Aam Aadmi Party government, aligning with their commitment to transparency and financial prudence.
