JSW Energy in talks with GMR Energy to buy a 1 GW power plant (India)
JSW Energy, the energy branch of the Indian conglomerate JSW, has started exclusive negotiations with GMR Energy, for a potential buyout of its subsidiary GMR Kamalanga Energy, which owns and operates a 1,050 MW (3x350 MW) coal-fired subcritical power plant in the state of Odisha (eastern India).
GMR Kamalanga Energy’s power plant benefits from a strategic location near the coal belt and has 15% untied capacity to take advantage of the merchant market. The plant is supplied by Mahanadi Coal Fields (MCL), a subsidiary of Coal India Limited (CIL), and has a long term power purchase agreement (PPA) with GRIDCO (Odisha), Uttar Haryana Bijli Vitran Nigam, (UHBVNL) and the Bihar State Electricity Board.
JSW Energy’s generation capacity reached 4,541 MW at the end of 2018, with nearly 70% of thermal power (3,140 MW) and 30% of hydro power (1,391 MW). In July 2019, it suspended the US$940m planned acquisition of a 1 GW coal-fired subcritical power plant in Raigarh, Chhattisgarh (India) from Jindal Steel and Power (JSPL).
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