Jindal Power Wins ₹500 Crore Bhadreshwar Vidyut Bid

Naveen Jindal-led Jindal Power Limited has won the bid for Gujarat's Bhadreshwar Vidyut under insolvency process. The ₹500 crore purchase comprises two 150 MW coal-fired thermal power plants in Kutch. The Committee of Creditors has given a Letter of Intent, with the resolution plan awaiting the National Company Law Tribunal approval. Jindal Power will finance the acquisition from internal accruals and invest more capital to improve operational efficiency. The strategic action enhances Jindal Power's energy portfolio, elevating its total thermal capacity to 4,600 MW, and aligns with its long-term growth strategy.
Source: Economic Times