JSW Energy has acquired Bina Thermal Power from Jaiprakash Power venture of about Rs.3500 crore.
The Bina Thermal Power plant has an installed capacity of 500 MW and it can be increased up to 1500 MW with marginal investment. Both parties have consented to an agreement.
According to the media reports JSW has completed the due diligence and has completed obligatory agreement.
In the last few years, this deal is the third acquisition of the JSW Energy which would raise the power generation capacity to 6,000 MW from 3,140 MW.It’s also developing another 8,360 MW plant.
JSW Enery has agreed Jaypee to acquire two hydropower assets the 300 MW Baspa-II and the 1,091 MW Karcham Wangtoo projects of Himachal Pradesh for Rs, 9,700 crore in November, last year.
Not only this, but JSW has also inked a non-binding agreement in which it will take majority stake in the Monnet Ispat and Energy with a combined capacity of 1,050 MW.
The Bina unit in Madhya Pradesh acquired by the Jaypee group from The Aditya Birla Group, supplies its output to the MP State Electricity Board.
Due to weak cash flows most independent power producers in the country are looking to sell their assets.
JSW Energy is controlled by Sajjan Jindal.
The post JSW Energy acquires Bina Thermal Power for Rs. 3500 crore appeared first on EPC World.