JSW Energy is reportedly planning to acquire a 1,000 Mw power plant in Raigarh (Chhattisgarh) from Jindal Steel and Power (JSPL). The valuation of this transaction is expected to be between Rs 6,000 crore and Rs 6,500 crore. Both boards are likely to clear the proposal on April 27, 2016 along with the quarterly numbers following which a binding agreement will get inked. Cash-crunch due to the downturn in steel prices and burgeoning debt might force the JSPL to shed some assets.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
