Vedanta, JSW Energy bid low for stressed Odisha power project
NEW DELHI: Anil Aggarwal’s Vedanta Resources and Sajjan Jindal-led JSW EnergyNSE 0.14 % have placed very low bids of about Rs 1 crore per megawatt for an incomplete stressed power project in Odisha, leaving lenders worried over big haircuts for about 15GW of such non-commissioned assets.
Industry insiders said the bids are exceptionally low considering the fact that the project has coal and power purchase tie-ups. The bids cover just the land cost and are very close to liquidation cost, sources said.
