GMR Infrastructure Ltd has decided to terminate a proposed 100 per cent stake sale in GMR Kamalanga Power to JSW Energy Ltd.
The company said in a BSE filing that the proposed divestment of 100 per cent stake in GMR Kamalanga Energy Ltd (1,050 MW) to JSW Energy Limited has elapsed.
Given the continued uncertainty due to Covid-19, the parties have mutually agreed to terminate the transaction. “Our Kamalanga plant is currently operating at good efficiency levels post the Covid lockdowns,” said the statement.