+
JSW Energy Acquires KSK Mahanadi Power Plant for Rs 159.85 Bn
POWER & RENEWABLE ENERGY

JSW Energy Acquires KSK Mahanadi Power Plant for Rs 159.85 Bn

JSW Energy has successfully acquired the bankrupt KSK Mahanadi Power Company under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016. The acquisition was finalised after JSW Energy offered Rs 15,985 crore to the company’s financial creditors, outbidding competitors Adani Power and NTPC. KSK Mahanadi, based in Chhattisgarh, operates a 3,600 MW thermal power plant, which uses domestic coal for generation. Currently, 1,800 MW (comprising three 600 MW units) is operational and fully contracted under long- and medium-term power purchase agreements (PPAs). An additional 1,800 MW (three 600 MW units) is under construction, with one unit 40% complete, and preparations are in place for the remaining 1,200 MW. The plant has secure arrangements for coal and water supply for the full 3,600 MW capacity.

KSK Mahanadi entered the debt resolution process in 2020 after defaulting on payments, with claims amounting to Rs 29,330 crore from its lenders. Various banks, including the State Bank of India, transferred their loans to asset reconstruction companies to recover their dues. The plant’s financial troubles were worsened by inadequate coal supplies. Following the acquisition, JSW Energy’s total thermal generation capacity now stands at 7.5 GW, with a total locked-in generation capacity of 28.2 GW. This acquisition places JSW Energy on track to meet its 20 GW target by 2030 and aligns with its commitment to achieving net-zero emissions by 2050.

JSW Energy has successfully acquired the bankrupt KSK Mahanadi Power Company under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016. The acquisition was finalised after JSW Energy offered Rs 15,985 crore to the company’s financial creditors, outbidding competitors Adani Power and NTPC. KSK Mahanadi, based in Chhattisgarh, operates a 3,600 MW thermal power plant, which uses domestic coal for generation. Currently, 1,800 MW (comprising three 600 MW units) is operational and fully contracted under long- and medium-term power purchase agreements (PPAs). An additional 1,800 MW (three 600 MW units) is under construction, with one unit 40% complete, and preparations are in place for the remaining 1,200 MW. The plant has secure arrangements for coal and water supply for the full 3,600 MW capacity. KSK Mahanadi entered the debt resolution process in 2020 after defaulting on payments, with claims amounting to Rs 29,330 crore from its lenders. Various banks, including the State Bank of India, transferred their loans to asset reconstruction companies to recover their dues. The plant’s financial troubles were worsened by inadequate coal supplies. Following the acquisition, JSW Energy’s total thermal generation capacity now stands at 7.5 GW, with a total locked-in generation capacity of 28.2 GW. This acquisition places JSW Energy on track to meet its 20 GW target by 2030 and aligns with its commitment to achieving net-zero emissions by 2050.

Next Story
Building Material

Ramco Cements Launches 'Hard Worker' Brand Identity

The Ramco Cements Limited has unveiled a new brand identity, “Hard Worker”, for its construction chemicals portfolio, with plans to scale the division’s revenue from Rs 2.1 billion in FY25 to Rs 20 billion within five years.The Hard Worker range includes 20 products such as tile adhesives, waterproofing solutions, bonding agents, and repair mortars, all manufactured in-house to ensure quality and sustainability. Available across Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Odisha, and West Bengal, the products are distributed through Ramco’s extensive dealer network. The company aims..

Next Story
Infrastructure Energy

IndianOil, Air India Sign SAF Supply MoU

Indian Oil Corporation Limited (IndianOil) and Air India have signed a Memorandum of Understanding (MoU) for the supply of Sustainable Aviation Fuel (SAF), marking a significant step in India’s aviation decarbonisation journey.The agreement reflects both companies’ commitment to promoting low-carbon fuels in aviation and aligning with international climate goals. It follows IndianOil’s achievement as the first Indian company to receive ISCC CORSIA certification for SAF production at its Panipat Refinery. The certification, under ICAO’s Carbon Offsetting and Reduction Scheme for Interna..

Next Story
Infrastructure Urban

Markolines Q1 Profit Doubles, Revenue Up 44 Per Cent

Markolines Pavement Technologies Limited, an integrated highway maintenance solutions company, has reported strong growth in its Q1 FY26 results, with both revenue and profit showing sharp gains.Operating income rose 44 per cent year-on-year to Rs 727 million in Q1 FY26 from Rs 504 million a year earlier. EBITDA increased 38 per cent to Rs 75 million, while profit after tax more than doubled to Rs 38 million compared with Rs 17 million in Q1 FY25. PAT margin improved to 5.2 per cent from 3.4 per cent. Earnings per share also rose significantly to Rs 1.72 from Rs 0.90 last year.The company secu..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?