Acquisitions7 Mar 2025, 05:02 am
JSW Energy Completes Acquisition of KSK Mahanadi, Surpasses 10 GW Operational Capacity
AI Summary
JSW Energy Limited has completed the acquisition of KSK Mahanadi Power Company Limited pursuant to the Resolution Plan submitted by the Company under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016. The Resolution Plan has now been implemented, and consequently KSK Mahanadi Power Company Limited has become a subsidiary of the Company. The Company will hold 74% of equity shares of KSK Mahanadi and the secured financial creditors collectively hold the balance 26% equity shares. The asset is a 3,600 MW thermal power plant, utilising domestic coal and located in the state of Chhattisgarh. The transaction values the asset for the resolution amount of 16,084 Crore for KSK Mahanadi.
Key Highlights
- JSW Energy has completed the acquisition of KSK Mahanadi Power Company Limited for a resolution amount of 16,084 Crore.
- The acquisition adds 1,800 MW of operational capacity to JSW Energy's portfolio.
- The asset is a 3,600 MW thermal power plant, utilising domestic coal and located in the state of Chhattisgarh.
- The Company will hold 74% of equity shares of KSK Mahanadi and the secured financial creditors collectively hold the balance 26% equity shares.
- The transaction is the largest acquisition of a thermal power asset under the IBC process in India.