Jindal Power to buy Simhapuri power plant for about Rs 3 billion

Reportedly, Jindal Power Limited (JPL) is set to acquire Simhapuri Energy Limited’s 600 MW power plant that runs on imported coal.

JPL will acquire the power plant in Andhra Pradesh’s Nellore district for around Rs 3 billion. The deal is likely to be sealed in over a week. Meanwhile, Simhapuri Energy is currently under liquidation. JPL is planning to operate the asset by importing coal from Indonesia and Africa. The company might begin operating the plant by the third quarter of 2022-23.