In a bid to trim part of the group’s Rs 60,000 crore debt, Jaiprakash Power Venture (JPVL) is reportedly planning to sell its two hydropower plants to a grouping led by Abu Dhabi government-owned utility -- Taqa -- for $1.8-2 billion
Taqa will buy JPVL’s two units at Baspa II (300 MW) and Karcham Wangtoo (1,000 MW) for $1 billion and will also take over the Rs 6,000 crore debt of the facilities. The cost of these two projects will be around Rs 8,900 crore, which include Rs 2,600 crore of equity.
Taqa will purchase these units with a consortium of both pension and private equity funds.
Jaiprakash Power Ventures is part of India’s leading Infrastructure conglomerate - Jaypee Group. Currently the company operates the largest hydroelectric power plant in the private sector in India. Its power projects which are in different stages of implementation include Hydro, Thermal and Transmission.
| Company Name | CMP |
|---|---|
| NTPC | 394.70 |
| Tata Power | 443.00 |
| Adani Power | 229.10 |
| Power Grid Corp | 315.75 |
| Torrent Power | 1733.45 |
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