JSW Energy in talks to buy GMR Kamalanga Energy
Mumbai: Sajjan Jindal-led JSW Energy Ltd, on Monday, said it has entered into exclusive talks with GMR Energy Ltd for buying out its thermal power plant GMR Kamalanga Energy Ltd.
“Both parties intend to conclude these discussions in an expeditious manner,” JSW Energy said in a filing with stock exchanges, without giving any further details.
Located in Dhenkanal district of Odisha, GMR Kamalanga Energy is a 1050 megawatt (MW) coal based power plant that has fuel linkages with Mahanadi Coal Fields, one of the major coal producing subsidiaries of Coal India Ltd. The plant is strategically located close to the coal belt and has a 15% untied capacity to benefit from the merchant market, according to the company’s website.
