JSW Energy has called off the ₹5,321-crore deal to acquire GMR’s Kamalanga Energy Ltd.

“With the elapsing of the long stop date, both parties have mutually agreed to terminate the transaction, given continued uncertainty due to the Covid-19 pandemic,” JSW Energy said in a statement.

JSW Energy had announced the proposed acquisition in October. GMR Kamalanga Energy Ltd is a subsidiary of GMR Energy Ltd and operates a 1,050-MW thermal plant in Odisha. However, in May the company had said that the acquisition has been put on hold due to the uncertainty brought about by Covid-19.

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