Adani Group in discussions with Jaypee for buying hydel projs.

Adani Group is in talks with diversified Jaypee Group for acquiring some of its hydro projects in a deal worth over Rs. 11,000 crore.

Besides, Sajjan Jindal-led JSW Energy is discussing the possibility of acquiring some thermal assets of Jaypee Group, industry sources said.

According to them, Adani Group is in discussions for purchasing Jaypee Group's hydel projects, having total capacity of 1,700 MW, including two in Himachal Pradesh.

The deal is estimated to be worth over Rs. 11,000 crore, including debt component, sources said.

The projects being eyed by Adani Group include 1,000 MW Karcham-Wangtoo and 300 MW Baspa II -- both are in Himachal Pradesh.

Sources said Adani Group Chairman Gautam Adani has already held talks with Jaypee Group Executive Chairman Manoj Gaur in this regard.

The discussion comes against the backdrop of TAQA pulling out of the deal to acquire Jaypee's two hydro projects.


BS