Bhilwara Energy acquires 49pc stake from Statkraft in Malana Power

New Delhi, Sep 9 (PTI) LNJ Bhilwara Group's arm Bhilwara Energy on Tuesday announced acquisition of Statkraft's 49 per cent stake in Malana Power Company.

The acquisition makes Bhilwara Energy the sole owner of the Malana Power, a company statement said.

The transaction includes Statkraft's stake in the Malana Hydropower Plant (86 MW) and Allain Duhangan Hydropower Plant (192 MW), both located in Himachal Pradesh.

These plants have been operated as 51:49 joint venture since 2004 and continue to cater to India's growing power demand.

"As we assume complete ownership of the Malana Power Company assets, LNJ Bhilwara Group is strategically positioned to scale its presence in the power sale business and actively explore new opportunities in renewable energy, with growth and technology at the core," Riju Jhunjhunwala, Managing Director, Bhilwara Energy, said. PTI KKS 1.0.0 ANU ANU