IPCL, DPSC may merge this year
India Power Corporation (IPCL) and DPSC are likely to be merged. IPCL is a Rs 60-crore company that has 100 mw of wind power generation capacity, in Karnataka, Gujarat and Rajasthan. DPSC is a 90-year-old electricity distribution company that was taken over by IPCL three years ago.
AK Goswami, president-New Initiatives, DPSC-IPCL, said the two companies would merge this year. IPCL has under construction a 450 mw thermal power project in Haldia.
DPSC is a Rs 600-crore company that distributes power in a 629 sq km area near Asansol, West Bengal and operates a 12 mw thermal power plant. DPSC got listed on the MCX-SX earlier this month. Goswami said that DPSC wanted a bigger play in the electricity distribution area. IPCL-DPSC has several large-size thermal power projects on the plan — adding to over 4,000 mw — but they are all stuck for want of coal linkage. Only the 3x150 mw Haldia project is underway.