Sikkim Government decides to sell SPICL’s stake in Sikkim Urja Limited and its subsidiary
First Published: 7th February, 2024 19:46 IST
Further, the management and operational control of both SUL and SPTL will be transferred to Greenko Limited
The Sikkim government has decided to sell the entire 60.08 per cent stake of Sikkim Power Investment Corporation Limited (SPICL) in Sikkim Urja Limited (SUL) and its subsidiary Sikkim Power Valley Transmission Limited (SPTL) to M/S Greenko Energies Private Limited (Greenko Limited) with immediate effect during a cabinet meeting held on February 3.
Further, the management and operational control of both SUL and SPTL will be transferred to Greenko Limited.
The sale of SPICL’s entire stake to Greenko Limited will also involve the takeover of the entire SPICL-PFC loan and the appointment of a Chairman and board of directors in both SUL and SPTL by Greenko Limited, withdrawing the appointments made by the Sikkim Government in SUL and its subsidiary project.
The sale of the SPICL’s stake was hastened because of the losses incurred by the government due to the washing away of the Teesta-III hydel power plant in a flash flood last year. The now-defunct 1200 MW project is run by the Sikkim Urja Limited. The dam was situated at the confluence of Lachen and Lachung, two tributaries of the Teesta river.
COMMENTS
![](assets/images/article/fb.jpg)
TOPMOST STORY NOW
![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/copy-8-2.png)
Live Imphal-Andro Bad Road Issue: Protestors Cut Power Supply to Manipur Secretariat
26th July 2024![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/copy-7-1.png)
Live Meghalaya Pressure Groups Stop Vehicles from Assam from Entering State, 10 Arrested; Additional Forces To Be Deployed
26th July 2024![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/copy-6-2.png)
Live Sikkim MP Indra Hang Subba meets Union Education Minister Dharmendra Pradhan, Seeks CBSE Affiliation for State’s Indigenous Languages
26th July 2024![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/copy-5-1.png)
Live Assam Rifles Commemorates 25th Kargil Vijay Diwas with Exhibition and Documentary Screening in Manipur
26th July 2024WE RECOMMEND
![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/copy-6-2.png)
Sikkim MP Indra Hang Subba meets Union Education Minister Dharmendra Pradhan, Seeks CBSE Affiliation for State’s Indigenous Languages
LS MP Subba requested for CBSE affiliation of Rai, Gurung, Sherpa and Tamang, indigenous languages of the state.
26th July 2024![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/3-member-1.jpg)
Centre To Form 3-Member Committee To Look Into NE Autonomous Councils’ Demands, Issues To Be Addressed In A Month
The 10 Autonomous District Councils and Territorial Councils are spread across Sixth Schedule areas in Assam, Meghalaya, Mizoram, and Tripura
25th July 2024![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/Tarundeep-Cover.jpg)
Paris Olympics 2024: Northeast’s Tarundeep Rai among Indian archers to kick start India’s campaign tomorrow
Tarundeep, 40, will be making his 4th Olympic appearance tomorrow
24th July 2024![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/Railwayssssss.png)
Indian Railways’ Big NE Push: Rs 10,376 Cr Allocated, Region to Get 60 Amrit Stations
Railways Minister Ashwini Vaishnaw said today that 18 railway projects with an investment of Rs 74,972 crore are already being taken up across northeast
24th July 2024![Banner](https://northeastlive.s3.amazonaws.com/media/uploads/2024/07/Bhumi-cover.jpg)
Bhumi Pednekar Hails Sikkim Govt’s Move Towards Environmental Sustainability says, ” hope other states follow suit as well”
The actress took to her Instagram stories and re-shared a reel highlighting the new development and how it would increase eco-consciousness among people
24th July 2024