GMR Energy's Kamalanga Thermal Power Station in Dhenkanal district of Odisha. All 3 units (350 MW each) have been commissioned between April 2013 and March 2014.
The project has long-term power purchase agreement with GRIDCO (Odisha), Uttar Haryana Bijli Vitran Nigam, (UHBVNL), and the Bihar State Electricity Board for 25 years, of which 19 years are left.
Rs. 3,951 crore
Debt owed to IDFC (lead lender), SBI, IDBI, Canara Bank and UCO Bank.
Rs 5,321 crore
Amount JSW Energy will pay to acquire 100% equity in the project. This value for the asset includes takeover of existing debt worth Rs 3,951 crore, and a payment of Rs 1,370 to the promoters, of which Rs 755 would be paid upfront while the balance Rs 615 crore are contingent consideration payable at different milestones.
17 Feb 2020
In a regulatory filing, JSW Energy mentions it has signed share purchase agreement with GMR Energy Ltd for acquiring GMR Kamalanga Energy Ltd. The deal is subject to approvals from the Competition Commission of India, lenders to the power plant, discoms that have power purchase agreement, and Industrial Development Corporation of Odisha (IDCO).