M&A

M&A

JSW Energy acquires Maruti Clean Coal & Power for Rs.1,410-Cr

BSE Announcement   Economic Times   Maruti Clean Coal & Power  

Mumbai-based JSW Energy is to acquire 100% of the equity shares of Raipur, Chhattisgarh-based Maruti Clean Coal & Power (MCCPL), at an enterprise value of INR 1,410 crore, from Kolahai Infotech and SFI Parcel Services. MCCPL will become a wholly owned subsidiary of JSW Energy.Founded in 2008, MCCPL operates a 300 MW thermal power plant in Korba, Chhattisgarh. The facility holds a long-term Power Purchase Agreement (PPA) for 195 MW with electricity distribution companies in Rajasthan, facilitated through the Power Trading Corporation of India, with a residual contract life of about 14 years. Coal for the plant is sourced via a long-term fuel supply agreement with South Eastern Coalfields and a linkage under the SHAKTI scheme.JSW Energy intends to use this acquisition to support growth and accelerate its progress toward a target of 30 GW capacity by 2030. Following this deal, JSW Energy’s total locked-in thermal capacity will increase to 10,958 MW.