GMR Kamalanga project sale to JSW hits Covid roadblock

Hyderabad; Just over three months after GMR group announced that it would be selling its 1050MW (3×350 MW) Kamalanga power project in Odisha to Sajjan Jindal-led JSW Group for Rs 5321 crore, the deal has hit a Covid-19 roadblock.
GMR group was to divest its entire stake in the Odisha-based power project that supplies electricity to states like Odisha, Bihar and Haryana under long-term power purchase agreements.
GMR Infrastructure Ltd said in a regulatory filing to the bourses on Thursday that the divestment of GMR Energy Limited’s entire stake in GMR Kamalanga Energy Ltd to JSW Energy Ltd has been “put on hold due to the outbreak of the Covid-19 pandemic and the nationwide lockdown”.