The Hindu Business Line

CCI nod for JSPL’s 24 MW wind power project sale


Fair trade regulator CCI has approved the proposed acquisitio­n of Jindal Steel and Power’s 24 MW wind power generation business in Maharashtr­a by Parjanya Wind Power.

For the transactio­n, a business transfer agreement was inked in October.

The Competitio­n Commission of India (CCI), which keeps a tab on unfair business practices has cleared the deal, as per the regulator’s website.

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 Jindal Steel and Power.

According to JSPL’s filing to stock exchanges in October, the deal on slump sale basis was being done to “generate cash flows as part of monetisati­on plan”.

Part of the O P Jindal Group, JSPL has interests in steel, power, mining and infrastruc­ture sectors.

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