,India

India’s JSPL sells coal-fired power business for $400m to Worldone

This move aims to reduce the company’s debt and carbon footprint by almost half.

India’s Jindal Steel and Private Limited (JSPL) has sold 96.42% of its stake in subsidiary Jindal Power Limited to Worldone Private for INR30.15b ($400m)

Worldone is a company owned by the promoter group of JSPL.

Jindal Power owns and operates 3,400 MW of coal-fired power capacity in the state of Chhattisgarh, including four 250MW and four 600MW thermal power units in Tamnar.

“This divestment is in line with our ESG objectives to be amongst the top 10 lowest Co2 emitting steel companies of the world. It is yet another step towards our vision to reduce debt substantially and create a robust balance sheet for our investors and stakeholders,” said JSPL managing director VR Sharma.

Aside from power, JSPL also has businesses in steel, power, mining and infrastructure sectors.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The project aims to transmit renewable electricity from Australia to Singapore.
Onshore wind will take up 82% of China’s 408 GW new capacity between 2021-2030.
With producing green hydrogen costs set to drop, APAC is ripe for a hydro revolution.
The project consists of numerous ground-mounted solar installations currently in development.
ETS covered around 40% of China's 11,535 Mt CO2e emissions in 2019.
In a nutshell, the tips are to minimise total land use, optimise land assessment, and increase land of suitable land.
1.7% is the minimum amount of land needed for solar generation alone.
There is already a notice to proceed with the 50-MW Niigata East Port biomass project.
This plant will be powered using 3-GW solar and 500-MW wind energy.
This is despite the decline of new approvals for coal-fired powerplants in H1 2021.
The country’s share of solar and wind energy will remain consistent.
This will help the region deal with climate change challenges .
The developments of photovoltaic projects will consolidate the German firm's position in the country