LNJ Bhilwara Group has acquired Statkraft’s 49 per cent stake in Malana Power Company, making Bhilwara Energy the sole owner of the 86 MW Malana and 192 MW Allain Duhangan hydropower plants in Himachal Pradesh.

Riju Jhunjhunwala, MD of Bhilwara Energy, said, “Full ownership positions us to expand in the power sector and explore new renewable energy opportunities.”

Statkraft’s exit aligns with its strategy to focus on core markets in Europe and South America.

Established in 1961, LNJ Bhilwara operates in textiles, graphite electrodes, power generation, and IT services, with Bhilwara Energy developing hydro and renewable projects across India.

News source: Business Standard