Jindal Power buys Apraava Energy's Jhajjar power plant

Naveen Jindal-owned Jindal Power Ltd (JPL) has signed an agreement to acquire the 1,350 MW Jhajjar Power Project in Haryana from Apraava Energy (formerly CLP India), marking one of the largest thermal power deals in recent years.

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While the companies did not disclose the transaction value, sources said the deal is pegged at around ₹4,000 crore.

JPL had emerged as the frontrunner for the acquisition after signing an exclusivity agreement with Apraava for bilateral negotiations earlier this year, ET first reported in May. The Jindal Group entity was competing with Czech-based Seven Global Investments for the asset. The deal, expected to close within a month, underscores JPL's strategy to strengthen its base-load power portfolio at a time when demand for thermal power remains robust.