JSW Energy to buy JP’s Bina thermal plant for Rs 3,500 cr

Sajjan Jindal-controlled JSW Energy and Jaiprakash Power Ventures on Tuesday announced they had entered into a binding memorandum of understanding (MoU) to acquire 100 per cent stake in the 500 megawatt (Mw) Bina thermal power plant located in Madhya Pradesh. Both sides did not disclose the transaction value, however, analysts estimate the project cost at around Rs 3,500 crore.

The actual deal value will depend on the final power purchase agreement (PPA) between JSW Energy and the power consuming states.

According to analysts, this transaction will not impact JSW’s debt while JP Group’s debt would stand at around Rs 45,000 crore.

In addition to this, the company concluded the acquisition of 100 per cent stakes in 300-Mw Baspa II and 1,091-Mw Karcham Wangtoo hydro electric power projects from Jaiprakash Power. These assets are valued at Rs 9,275 crore.

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