Companies

Jaiprakash Power drops plan to hive off hydro power units

Debabrata Das New Delhi | Updated on March 12, 2018 Published on September 24, 2014

Jaiprakash Power Ventures Ltd said on Wednesday that it has dropped plans to hive off Bapsa II and Karcham Wangtoo hydro power plants into two separate, wholly-owned subsidiaries.

JPVL announced the development in a statement to the Bombay Stock Exchange.

JPVL had signed a memorandum of understanding with Anil Ambani-owned Reliance Power on July 27 to sell the two projects along with its 400-MW Vishnuprayag hydro power plant for around ₹ 12,300 crore.

It is unclear whether the sale will go through. The exclusivity of the MoU with Reliance Power ends on September 25.

Published on September 24, 2014
null
This article is closed for comments.
Please Email the Editor