Officials from the antihegemonic Competition Commission of India (CCI) announced it has granted approval to JSW Energy Ltd. to acquire the 300-MW Baspa II and 1,091-MW Karcham Wangtoo hydroelectric projects, both located in the state of Himachal Pradesh. JSW said the acquisition would make it “the largest private sector hydropower generator in India,” bringing its “operating hydropower capacity to 1,391 MW.”

The Baspa II and Karcham Wangtoo US$1.8 billion purchase from Jaiprakash Power Ventures Ltd. (JPVL), according to CCI, is pursuant to a securities purchase agreement entered into Nov. 16, 2014 between JSW, JPVL, Himachal Baspa Power Co. Ltd. (HBPCL) and Jaypee Group Employees Welfare Trust.

In its approval, CCI noted that HBPCL, JSW and its subsidiary JSW Power Trading Co. Ltd. (JSWPTL) are engaged in power generation in India. However, the company’s structure and the amounts of power it would manage are “insignificant” in the committee’s view, when compared to other power producers in India. Read more

Courtesy: hydroworld.com

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