Re­liance Power to buy Jaiprakash’s hy­dro busi­ness

Power Watch India - - DISPATCHES NATIONAL -

Re­liance Power will re­port­edly buy Jaiprakash Power Ven­tures Limited’s en­tire hy­dropower busi­ness. The deal, it is said, will make Anil Am­bani’s group the largest pri­vate hy­dropower provider in In­dia. Re­liance CleanGen Limited, a part of Am­bani’s Re­liance Group, has signed an exclusive Mem­o­ran­dum of Un­der­stand­ing (MoU) with Jaiprakash to buy three power plants. The hy­dropower port­fo­lio is val­ued at around Rs 120 bil­lion and the plants have a to­tal ca­pac­ity of nearly 1,800 MW. For Re­liance, whose busi­ness em­pire in­cludes tech­nol­ogy, fi­nan­cial ser­vices and me­dia as­sets, the plants would add to about 5,000 MW of hy­dropower ca­pac­ity it is al­ready de­vel­op­ing.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.