Jindal Power looking at buyout of projects

Jindal Power looking at buyout of projects

New Delhi: Jindal Power on Wednesday said it is considering “quite a few" projects for buyout in the country, especially in the thermal power space.

“There are quite a few projects under consideration. But, nothing has been finalized as yet," JSPL Deputy MD Sushil Maroo told PTI. Jindal Power is a subsidiary of JSPL.

Stating that the proposed acquisitions would mostly be funded from internal accruals, Maroo said Jindal Power would like to buy projects which are either in the initial stages of construction or are already operational.

Jindal Power, he said, was not looking beyond India for acquisitions, but the projects should have transmission facility, coal linkages and transportation facilities, among others, in place.

Maroo said the acquisitions might not only confine to the thermal power generation space alone, the company was open to acquire projects powered by other sources as well.

The reasons for going inorganic way to add capacity could not be immediately ascertained, but such an approach would help the company to save time on capacity addition.

Jindal Power has 1,000 MW capacity and is in the process augmenting the same to over 7,000 MW. The company has also inked agreements to develop 6100 MW hydro power projects in Arunachal Pradesh.

India is expected to add over 50,000 MW power generation capacity in the current Five-Year Plan ending March, 2012.