JSW Energy receives Letter of Intent for KSK Mahanadi Power’s resolution plan

JSW Energy Ltd has been selected as the successful applicant for the resolution plan for KSK Mahanadi Power Company Ltd (KMPCL) under the Insolvency and Bankruptcy Code. The company was chosen after the Committee of Creditors approved the resolution plan. The transaction is subject to approval from the National Company Law Tribunal and the Competition Commission of India. KMPCL owns and operates a 3,600 MW thermal power station in Chhattisgarh, with 1,800 MW currently operational and 1,800 MW under construction. JSW Energy’s CEO, Sharad Mahendra, believes the plant’s strategic location, tied-up power purchase agreements, and efficient operations will ensure a reliable power supply. The company plans to continue exploring new opportunities and expand its presence in the energy sector.