Jaiprakash Power Ventures plans to sell Bina Thermal Power Plant
Jaiprakash Power Ventures announced that Jaiprakash Power Ventures (JPVL) has concluded the Sale of Securities of Himachal Baspa Power Company (HBPCL) to JSW Energy at an Enterprise Value (EV) of Rs. 9,700 crore reduced by mutually agreed adjustments, including inter-alia Rs. 300 crore which is payable upon receipt of certain additional consents and approvals related to the Karcham Wangtoo HEP. Further, JPVL has also paid a compensation of Rs. 150 crore to HBPCL, with profit and loss from these plants accruing to it from 01 September 2015.JPVL has also entered into a binding Memorandum of Understanding (MoU) with JSW Energy for sale of 100% stake of its 500 MW Bina Thermal Power Plant to JSW Energy.
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