JSW Energy intends to revive its 240 MW hydro power project located in Chamba district of Himachal Pradesh at a cost of Rs 2,500 crore. The project which was conceived in 2007 was put on hold as the company could not have a long-term power purchase agreement (PPA) with buyers.
The company has bid to supply 240 MW of the 500 MW for which bids were called by the Haryana government. Once the results are declared work will commence on the Kuther hydro power project.
JSW Energy is also looking at purchasing stressed power assets, including hydro power projects, to expand its capacity currently at 4,452MW.
In 2015, JSW Energy bought the Jaypee Group’s Karcham Wangtoo and Baspa power projects in Himachal Pradesh for Rs 9,700 crore.