JSW acquires GMR’s 1,050 MW Odisha power unit in Rs 5,321 crore deal
JSW Energy Ltd said Monday that it will take over 100% stake in GMR Kamalanga Energy Ltd (GKEL) ― the business unit of GMR Infrastructure that houses the 1,050 mega-watt (MW) thermal power plant in Odisha ― for Rs 5,321 crore. After the acquisition, JSW Energy’s installed power generation capacity would reach 5,609 MW. About 84% of the power plant’s capacity supplies electricity to Odisha, Haryana and Bihar under long-term power purchase agreements. It also has adequate coal supply arrangements from nearby mines, reducing fuel costs and resulting in lower risks of under-recoveries.
