Hits trump misses in power firms' $4.4-billion acquisition spree

Acquisitions by Tata Power, Adani Power & JSW Energy were profitable in FY20

India’s top three private power producers — Tata Power, Adani Power and JSW Energy — combined acquired assets worth more than $4.4 billion in the past six years. While debt remains a concern for two of the three companies, they saw more hits than misses in this acquisition spree.

“They were technically the only three buyers with the capability to pick up the assets that were available in the power sector fire sale back then,” said an industry executive who did not wish to be identified. The executive said that some assets were sold at half the price of setting up