Jindal Power to buy Simhapuri power plant for about ₹300 cr

Jindal Power Limited, owned by worldone private limited, a private company owned by the promoter group of Jindal Steel NSE -6.13 % and Power Ltd., is set to acquire Simhapuri Energy’s 600 MW power plant that runs on imported coal, people aware of the development said.

JPL will acquire the power plant in Andhra Pradesh’s Nellore district for around ₹300 crore and the deal is likely to be sealed in over a week, they said. JPL did not respond to an email sent on Monday seeking comment.