CCI Clears JSW Energy's Full Acquisition of KSK Mahanadi Power
POWER & RENEWABLE ENERGY

CCI Clears JSW Energy's Full Acquisition of KSK Mahanadi Power

The Competition Commission of India has approved the proposed acquisition of 100 per cent shareholding in KSK Mahanadi Power Company by JSW Energy.

JSW Energy (JSWEL) is a public listed company having established its presence across the value chains of the power sector with diversified assets in power generation, transmission and trading with strong operations, robust corporate governance and prudential capital allocation. Presently, JSWEL (through its subsidiaries) is engaged in power generation, power transmission, power trading, coal mining, and power equipment manufacturing.

JSW Thermal Energy One (JSW Thermal) is a newly formed wholly owned subsidiary of JSWEL, incorporated in October 2024 for the purposes of facilitating the Proposed Transaction. JSW Thermal currently does not have any business activities of its own.

KSK Mahanadi Power Company (KMPCL) was incorporated in 2009 and is involved in the business of generation and sale of power. Currently, KMPCL is generating and supplying power through its thermal power plant of 6 x 600 MW situated at Janjgir- Champa District, Chhattisgarh. Currently KMPCL is undergoing the Corporate Insolvency Resolution Process (CIRP).

The Proposed Transaction involves the acquisition of 100 per cent shareholding in KMPCL (which is currently undergoing CIRP initiated under the Insolvency and Bankruptcy Code, 2016), by JSWEL (through JSW Thermal) (Proposed Combination).

News source: PIB

The Competition Commission of India has approved the proposed acquisition of 100 per cent shareholding in KSK Mahanadi Power Company by JSW Energy. JSW Energy (JSWEL) is a public listed company having established its presence across the value chains of the power sector with diversified assets in power generation, transmission and trading with strong operations, robust corporate governance and prudential capital allocation. Presently, JSWEL (through its subsidiaries) is engaged in power generation, power transmission, power trading, coal mining, and power equipment manufacturing. JSW Thermal Energy One (JSW Thermal) is a newly formed wholly owned subsidiary of JSWEL, incorporated in October 2024 for the purposes of facilitating the Proposed Transaction. JSW Thermal currently does not have any business activities of its own. KSK Mahanadi Power Company (KMPCL) was incorporated in 2009 and is involved in the business of generation and sale of power. Currently, KMPCL is generating and supplying power through its thermal power plant of 6 x 600 MW situated at Janjgir- Champa District, Chhattisgarh. Currently KMPCL is undergoing the Corporate Insolvency Resolution Process (CIRP). The Proposed Transaction involves the acquisition of 100 per cent shareholding in KMPCL (which is currently undergoing CIRP initiated under the Insolvency and Bankruptcy Code, 2016), by JSWEL (through JSW Thermal) (Proposed Combination). News source: PIB

Next Story
Infrastructure Urban

Andhra Pradesh to Develop 30,000 Women-Led Enterprises by 2025

The Municipal Administration and Urban Development (MAUD) Department is accelerating efforts to create sustainable livelihoods for women in urban areas, in line with Chief Minister Nara Chandrababu Naidu’s goal of fostering one lakh women entrepreneurs by 2025. Under this initiative, the MAUD Department has set a target to establish 30,000 women-led enterprises across towns and cities in Andhra Pradesh. To support this vision, the department plans to establish Micro, Small & Medium Enterprises (MSMEs) for women in TIDCO housing complexes. Vacant plots across 163 colonies have been earmarked ..

Next Story
Infrastructure Energy

G Kishan Reddy discusses mining expansion, clearances with Chhattisgarh CM

Coal and Mines Minister G Kishan Reddy met Chhattisgarh CM Vishnu Deo Sai on Friday to expedite land acquisition and environmental clearances for mining projects. Reddy, who was on a two-day visit to review operations at South Eastern Coalfields Ltd (SECL), discussed measures to boost mining-led economic growth in the state. Key topics included speeding up land acquisition for mine expansions, obtaining quicker environmental approvals, and setting up integrated rehabilitation and resettlement sites. The minister also highlighted the importance of developing critical minerals in the region, alo..

Next Story
Infrastructure Urban

NITI Aayog's Vision for India's Auto Industry

NITI Aayog has launched the report titled "Automotive Industry: Powering India’s Participation in Global Value Chains," offering a roadmap for the country’s automotive future. Released by Shri Suman Bery, Vice Chairman, the report outlines key strategies to grow India’s automotive sector to $145 bn in component production by 2030. India is currently the fourth-largest automobile producer globally, but with only a modest three per cent share in the global automotive component market. The report emphasises the need to strengthen India’s position through competitive manufacturing, skill d..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?