Sajjan Jindal keen to buy out stressed hydroelectric plants


Sajjan Jindal keen to buy out stressed hydroelectric plants

Sajjan Jindal’s JSW Energy plans to expand its portfolio in the hydroelectric power space by buying projects that are stymied by the lack of quality and large-scale projects of this kind that are up for sale. At a recent meeting with journalists at its Karcham-Wangtoo hydroelectric power plant in Himachal Pradesh’s Kinnaur district, a senior executive said that the company is keen to expand its portfolio inorganically.

“We are keen on buying out stressed assets in the hydroelectric space but currently there is nothing we are evaluating,” Sharad Mahendra, COO, Energy Business, JSW Energy Ltd, told journalists. “There are several projects which are distressed where some investment has been made, a lot of the work is pending.

Opportunities are coming our way and we are evaluating them, but a lot depends on what percentage of execution has happened, whether power purchase agreements are in place. We’re continuously evaluating the options but right now, there is nothing along the size that we are looking for.” Read More

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