New Delhi : Sajjan Jindal-controlled JSW Energy said it will acquire Jaypee Group’s Bina thermal power plant in Madhya Pradesh even as it concluded previously announced deal to buy the cash-strapped group’s two hydropower projects.
While JSW Energy did not disclose what it is paying to buy the 500 megawatt Bina plant, report said it could have agreed to pay as much as Rs 3,500 crore.
Also, the company concluded acquisition of Jaypee’s two hydropower plants for Rs 9,700 crore. The deal to buy 300 MW Baspa-II and 1,091 MW Karcham Wangtoo projects, both in Himachal Pradesh, were announced in November last year. Besides, JSW Energy has also entered into a binding agreement with JPVL to acquire 500 MW Bina thermal power plant in Madhya Pradesh.
“The acquisition helps in diversifying the power generation portfolio with high hydro power assets, besides increasing the share of long-term PPA (power purchase agreement) in our basket,” JSW Energy Chairman and MD Sajjan Jindal said.
