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Power sector sees $4 bn consolidation in 4 months

About 55,000 Mw of power capacity is up for sale as weaker players need to sell-off to de-leverage

Tata Power became the third domestic utility this year to join the ongoing consolidation race in the power sector by acquiring the 540-Mw thermal power plant in Maharashtra from IRB group firm Ideal Energy Projects. The deal is estimated to be worth Rs 3,500 crore. With this, the Indian power sector has seen near $4-billion (Rs 24,000-crore) consolidation in the last four months as assets in the industry move from weaker to stronger hands. In November, JSW Energy announced it had acquired two hydroelectric plants from Jaiprakash Power Ventures with a combined capacity of 1391 Mw for ...