JSW Energy buys GMR power unit for ₹5,321 cr

Sajjan Jindal-backed JSW Energy Ltd has acquired GMR’s Kamalanga Energy Ltd for ₹5,321 crore. Post the acquisition, the total installed power generation capacity of JSW Energy will increase to 5,609 MW.

JSW Energy had announced this acquisition in October. GMR Kamalanga Energy Ltd is a subsidiary of GMR Energy Ltd and operates a 1,050-MW thermal plant in Odisha. The acquisition is an all-cash deal and includes three plants with 350 MW capacity each, located at Dhenkanal district in Odisha, with revenues of ₹2,195 crore.

The acquisition will expand JSW Energy’s presence in the eastern region and diversify its fuel mix and offtake arrangements.