23 March 2024–For Rs 132 crore, the billionaire Sajjan Jindal-owned JSW Energy will purchase Reliance Power’s wind energy facility in Maharashtra. Vashpet is home to the 45 MW wind power facility, which has an agreement with Adani Electricity for electricity offtake. Repayment of debts will be made using the proceeds from the asset’s sale. The DBS bank was the mortgagee of the asset.
Reliance Power notified stock markets on Thursday that the asset is unencumbered after the resolution of its debt with the Singaporean bank.
Last year, JSW Energy purchased several solar and wind energy assets from Ravi Kailas of Mytrah Energy for Rs 10,531 crore. This was the biggest transaction in JSW Energy’s history, enabling it to increase its electricity production capacity by more than 36%.
Conclusion
In FY23, the Vashpet wind energy plant earned Rs 29 crore. The deal is expected to be completed by the following month. JSW Renewable Energy (Coated), a step-down entity of Rs 10,332-crore JSW Energy, is handling the Vashpet transaction.
