Jaiprakash says hydropower deal with Reliance collapses

NEW DELHI (Reuters) - Jaiprakash Power Ventures Ltd said on Wednesday a deal to sell its entire hydropower business to Anil Ambani's Reliance Power Ltd has collapsed.

Jaiprakash said in a statement that talks with the Anil Dhirubhai Ambani Group (ADAG) fell apart due to a "difference of commercial aspects". The deal for the three plants was first announced in July.

Jaiprakash and parent Jaiprakash Associates Ltd have been trying to sell the plants to raise cash and pay down debt.

(Reporting by Tommy Wilkes, editing by Louise Heavens)