French company GDF Suez SA acquired 74% stake in the 1,000 MW coal-fired power project owned by Meenakshi Energy and Infrastructure Holdings Pvt. Ltd in Andhra Pradesh. The deal size is expected to be around Rs.650 crore.
Meenakshi will retain 26% stake in the Rs.6,000 crore power project, fueled by imported coal. 300MW is already operational while the remaining 700MW capacity is expected to be commissioned by 2015.