JSW set to buy Jaypee’s Bina thermal power unit

S<g data-gr-id="181">ajjan Jindal</g>-controlled JSW Energy on Tuesday said it will acquire Jaypee Group’s Bina thermal power plant in Madhya Pradesh even as it concluded <g data-gr-id="164">previously</g> announced deal to buy the cash-strapped group’s two hydropower projects. While JSW Energy did not disclose what it is paying to buy the 500 megawatt Bina plant, <g data-gr-id="163">report</g> said it could have agreed to pay as much as Rs 3,500 crore. “JSW Energy has entered into a binding Memorandum of Understanding (MOU) with Jaiprakash Power Ventures Ltd to acquire 100 per cent stake in the 500 MW Bina thermal power plant located in the 

Sagar district of Madhya Pradesh,” the company said in a statement here.

Also, the company concluded <g data-gr-id="161">acquisition</g> of Jaypee’s two hydropower plants for Rs 9,700 crore. The deal to buy 300 MW Baspa-II and 1,091 MW Karcham Wangtoo projects, both in Himachal Pradesh, were announced in November last year. “The company has concluded the acquisition of 100 <g data-gr-id="157">per cent</g> of the securities of Himachal Baspa Power Company Ltd. (HBPCL) which has two operating Hydro Power assets -300 MW Baspa-II <g data-gr-id="158">Hydro electric</g> project (HEP) and 1,091 MW Karcham Wangtoo HEP,” JSW Energy said in a statement.

JSW Energy has also entered into a binding agreement with JPVL to acquire 500 MW Bina thermal power plant in Madhya Pradesh. “JPVL has also entered into a binding MoU with JSW Energy for <g data-gr-id="159">sale</g> of 100 per cent stake of its 500 MW Bina Thermal Power Plant to JSW Energy, “ JPVL said in a statement.