A
What happened
Bhilwara Energy signed an agreement to acquire 100% stake in Mandakini Jal Urja, which is developing a 76 MW hydroelectric project in Uttarakhand. The acquisition is subject to customary conditions and will make Bhilwara Energy the sole owner of the Phata Byung run-of-river hydroelectric project. This move strengthens Bhilwara Energy's renewable portfolio and allows Statkraft to focus on its core markets by exiting the project.
★
Key insights
-
1
Strategic Acquisition: Bhilwara Energy is expanding its hydropower assets, enhancing its renewable energy footprint.
-
2
Statkraft's Focus: Statkraft aims to streamline its international portfolio by divesting from this project in India.
Takeaways
The acquisition supports Bhilwara Energy’s growth in renewable power infrastructure and reflects strategic realignment by Statkraft in the international energy market.