“Bhilwara Energy signs agreement to acquire 76-MW hydropower project in Uttarakhand.”

Diversified LNJ Bhilwara Group recently announced that it has signed an agreement to acquire a 100% stake in Mandakini Jal Urja, which is developing a 76-MW hydropower project in Uttarakhand. The transaction value was not disclosed.

The acquisition will be executed through the group’s subsidiary, Bhilwara Energy, which will purchase the entire equity holding from Statkraft IH Holding AS, the company said in a statement.

The deal is subject to customary conditions precedent, it added.