Engie, formerly known as GDF Suez SA, had bought a majority stake in the power plant from Hyderabad-based Meenakshi Energy and Infrastructure Holdings Pvt. Ltd in 2013.
The French company is looking to sell the plant along with its Indonesian asset PT Paiton Energy to get a better value for the assets, the people said on condition of anonymity as they are not authorized to speak to reporters.
“They (Engie) are reaching out to various players to explore all options. They want to club the loss-making Indian project with the Indonesian project, which is a better asset. There may be few takers for the Meenakshi plant as it does not have linkage to coal (mine),” said one of the three people cited above.