Jaiprakash Power sells plant to JSW Energy in $400 mn deal – Feedback

Sajjan Jindal-promoted JSW Energy will acquire Jaiprakash Power Ventures’ 500 MW thermal plant at Bina in Madhya Pradesh at base enterprise value of Rs 2,700 crore.

“The company has agreed to acquire the 500 MW (2X250 MW) thermal power plant located at Bina, district Sagar in Madhya Pradesh from Jaiprakash Power Ventures Ltd,” JSW Energy said in BSE filing today. After JSW Energy announced purchase of Jindal Steel & Power’s Chhattisgarh thermal power plant for around Rs 6,500 crore in May, this is the second purchase of a power plant by the company. JSW Energy envisages an electricity generation capacity of 10,000 MW by 2020. JSW Energy also said that it has agreed to consider acquisition of 100 per cent equity in Minerals & Energy Swaziland (Pty) Ltd. It has prospecting rights over a coal bearing area admeasuring 8000 hectares in Swaziland.

http://economictimes.indiatimes.com/industry/energy/power/jaiprakash-power-sells-plant-to-jsw-energy-in-400-mn-deal/articleshow/53269620.cms

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