Companies

JSW Energy set to acquire GMR's Odisha thermal plant

Our Bureau Mumbai | Updated on July 29, 2020 Published on July 29, 2020

The two sides had entered into negotiations in October 2019.   -  istock/AndreyPopov

JSW Energy Limited is expected to sign a deal with GMR Energy for acquiring 100 per cent stake in  GMR Kamalanga Energy. The transaction had been put on hold given the ongoing uncertainty and will be revisited once the situation normalizes.

The two sides had entered into negotiations in October 2019. GMR Kamalanga Energy Ltd owns and operates a 1,050-MW (3x350 MW) thermal power plant in Odisha.

Post-acquisition, the total installed power generation capacity of JSW Energy will increase to 5,609 MW. This will expand the Company’s presence in the Eastern region of the country and further diversify its fuel mix and offtake arrangements.

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Published on July 29, 2020
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