Monnet Power News Today

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New Delhi, Jan 8: Jindal Steel and Power Limited (JSPL) will invest up to Rs 1,500 crore to make recently-acquired Monnet Power operational, its Managing Director Bimlendra Jha said. The investment will be made over the period of the next 12 to 18 months, he said. In December 2022, the steelmaker acquired debt-laden Monnet Power for Rs 410 crore through the insolvency route. The 1,050 megawatts (MW) under-construction coal-based power project is located near JSPL’s steel plant in Angul, Od...

Jindal Steel and Power (JSP) Limited has acquired debt-laden Monnet Power for Rs 410 crore through insolvency route, a company official said on Thursday.

The transaction for the Odisha-based 1,050 megawatt power asset was completed on Wednesday, Kapil Mantri.