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Home » Biomass » Gammon Infra sells its 50% stake in 8 biomass projects and buys stake in 6 biomass projects

Gammon Infra sells its 50% stake in 8 biomass projects and buys stake in 6 biomass projects

Gammon Infrastructure Projects Ltd. said it had sold its 50 percent stake in the 12-MW operational biomass power plant of Punjab Biomass Power Ltd. at Ghanour to its joint venture partner for a cash consideration.

The company further sold its 50 percent stake in seven other biomass power projects in Punjab to its joint venture partner and had in turn bought an additional 50 percent stake in six biomass power project in Haryana and one in Punjab from the JV partner.

As a result of the transaction, the company will have 100 percent stake in biomass projects to generate 66-MW power. The transaction, however, is subject to the approval of the concerned authorities and lenders, it said.

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