JSW Energy in talks with GMR to buy Kamalanga power project in Odisha
JSW Energy, a Sajjan Jindal-led company, has entered into exclusive talks with GMR Energy for a potential acquisition of the later’s subsidiary GMR Kamalanga Energy which operates a 1050-MW power project in Dhenkanal, Odisha.
“Both parties intend to conclude these discussions in an expeditious manner,” JSW Energy said in a statement to the stock exchanges.
GMR Kamalanga Energy has a 1,050 megawatt (3×350 MW) operational coal-based power plant located at Kamalanga village in Dhenkanal. It has fuel linkages with Mahanadi Coal Fields, a subsidiary of Coal India, and a long-term power purchase agreement with Grid Corporation of Odisha, Uttar Haryana Bijli Vitran Nigam as well as Bihar State Electricity Board.
