GVK Power to divest 21% in GVK Energy

GVK’s power portfolio comprises operational capacity of 909 MW,with a further 4,200 MW under various stages of development,it added.

“This transaction is an indicator of GVK’s ability to create value in its businesses for the benefit of stakeholders,” GVKPIL’s Chairman,G V Krishna Reddy said.

Explaining its rationale for the investment,3i Asia Head and Managing Director Anil Ahuja said: “GVK is well positioned to take advantage of the demand for power in India which is growing strongly.”

India Infrastructure Fund is a USD 1.2-billion investment fund,established by PE major,3i Group.