Fair trade regulator Competition Commission of India (CCI) has approved the proposed acquisition of Jindal Steel and Power’s (JSPL) 24 MW wind power generation business in Maharashtra by Parjanya Wind Power. A business transfer agreement was inked in October for the same.
Under the deal, Parjanya -- wholly-owned subsidiary of India Infrastructure Fund 11 -- would acquire the 24 MW wind power generation business at Satara, Maharashtra from JSPL.
JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
