The acquisition is expected to strengthen Jindal Power’s portfolio, which already includes a robust thermal power generation capacity exceeding 4.6 gigawatts.
Jindal Power, part of the Naveen Jindal-led conglomerate, has successfully bid, estimated to be around Rs 500 crore, for Gujarat-based Bhadreshwar Vidyut, a thermal power producer currently undergoing insolvency proceedings. The company’s resolution professional, Hitesh Goel, confirmed that Jindal Power has been issued the letter of intent, positioning it as the preferred resolution applicant.
“Lenders have issued the letter of intent to Jindal Power, which is the successful resolution applicant,” said Goel. “As a next step, the resolution plan will be taken to the…
