JSW Energy, part of Sajjan Jindal’s JSW Group, is believed to have initiated talks for a possible acquisition of Monnet Power’s 1,050 Mw (2×525) coal-fired plant in Odisha at Angul, close to the site of another Group company, Jindal Steel & Power Ltd’s (JSPL) steel making facility.
“JSW Energy is looking at some unfinished power projects in Odisha. The company is eyeing Monnet Power’s asset for which talks have taken off”, said a source, adding the talks were preliminary. Monnet Power’s coal-based plant was in an advanced stage of commissioning. Monnet Power’s parent company, The Monnet Ispat & Energy had won the Mandakini coal block in Odisha in competitive bidding, it surrendered the block later on grounds of economic unviability.