PIB News Update:The Competition Commission of India (CCI) approves the acquisition by JSW Energy Limited (“Acquirer”) of GMR Kamalanga Energy Limited (“Target”), under Section 31(1) of the Competition Act, 2002, in its meeting held today through video conferencing
The proposed combination envisages the acquisition of the entire (i.e., 100%) shareholding of the Target by the Acquirer.
The Acquirer (also through its subsidiaries) is engaged in power generation, power transmission, power trading, coal mining and power equipment manufacturing. Presently, the Acquirer has a power generation capacity of 4,541 MW comprising of portfolio of thermal (3,140 MW), hydro (1,391 MW) and solar (10 MW).
The Target is engaged in generation of power through its coal based thermal power plant at Kamalanga village, Dhenkanal district, Odisha.
Detailed order of the CCI will follow.