JSW Energy Limited has signed definitive agreements with Kolahai Infotech Private Limited and SFI Parcel Services Private Limited to acquire 100 per cent equity shares of Maruti Clean Coal and Power Limited (MCCPL). The transaction values MCCPL at an enterprise value of about Rs 14.1 billion. Upon completion, MCCPL will become a wholly owned subsidiary of the company.
MCCPL owns and operates a 300 MW thermal power plant at Korba in Chhattisgarh. The plant has a long-term power purchase agreement for 195 MW (net) with Rajasthan discoms through PTC India, with a residual term of around 14 years. In addition, 5 per cent of the power is supplied to the Chhattisgarh discom at variable cost, while the balance capacity of about 64 MW is sold in the merchant market. Following the acquisition, JSW Energy’s total installed and locked-in thermal power capacity will increase to 5,958 MW and 10,958 MW, respectively.