LNJ Bhilwara Group Acquires Statkraft's 49% Stake in Malana Power, Becomes Sole Owner

LNJ Bhilwara Group has strengthened its position in India's power sector by completing the acquisition of Statkraft's 49% minority stake in Malana Power Company Ltd. This strategic move makes Bhilwara Energy Ltd, a subsidiary of LNJ Bhilwara Group, the sole owner of significant hydropower assets in Himachal Pradesh.

Acquisition Details

The acquisition encompasses holdings in two key hydropower plants:

1. Malana Hydropower Plant (86 MW)
2. Allain Duhangan Hydropower Plant (192 MW)

Both plants, located in Himachal Pradesh, have been operating as a 51:49 joint venture between LNJ Bhilwara Group and Statkraft since 2004. The plants continue to supply clean energy, contributing to India's growing electricity demand.

Strategic Implications

For LNJ Bhilwara Group:

• Solidifies the group's presence in India's power sector
• Aligns with the company's clean energy strategy
• Provides full control over the hydropower assets

For Statkraft:

• Supports its global strategy to reallocate resources
• Allows focus on core markets in Europe and South America

Market Response

The market responded positively to this development. Shares of HEG Ltd, a part of the LNJ Bhilwara Group, closed 1.63% higher at ₹499.00 on the National Stock Exchange (NSE).

Conclusion

This acquisition marks a significant step for LNJ Bhilwara Group in expanding its clean energy portfolio. By taking full ownership of these hydropower assets, the group is well-positioned to capitalize on India's growing demand for renewable energy sources. The move also reflects the ongoing shifts in the global energy landscape, with companies realigning their portfolios to focus on strategic markets and assets.