JSW Energy to purchase GMR's Kamalanga power project for Rs 5,321 cr

JSW Energy will acquire GMR’s Kamalanga power project (1,050 Mw) in Odisha for Rs 5,321 crore. In a notice to exchanges, JSW said it had entered into a ‘share purchase agreement’ with GMR Energy for acquiring 100 per cent shares in its subsidiary GMR Kamalanga Energy.

Post-acquisition, the total installed power generation capacity of JSW Energy will increase to 5,609 Mw. “This will expand the company’s presence in the eastern region of the country and further diversify its fuel mix and off take arrangements,” the company said. 

Kamalanga is one the 36 identified stressed power assets that was undergoing debt resolution. The