JSW Energy buys GMR’s Odisha thermal plant
JSW Energy has agreed to acquire a 1,050 megawatt (MW) coal-fired power plant in Odisha from GMR Energy Ltd for a total consideration of ₹5,321 crore.
The acquisition of GMR Kamalanga Energy Ltd is expected to close in three months, subject to the receipt of regulatory clearances, JSW Energy said in a regulatory filing on Monday.
JSW Energy’s total installed power generation capacity will increase to 5,609MW after the transaction. It will also expand the company’s presence in the eastern region and diversify its fuel mix and offtake arrangements, JSW said.
The plant, in Odisha’s Dhenkanal district, has three units of 350MW each. Of its total generation capacity, 84% is tied-up in long-term power purchase agreements with state electricity distribution companies in Odisha, Haryana, and Bihar while the remainder is available for merchant sale.
