RPower to buy Jaypee group hydro projects for Rs. 15,000 cr.

Reliance Power Ltd., an Anil Ambani Group firm, has acquired the entire hydro power portfolio of Jaiprakash Power Ventures for an estimated Rs. 15,000 crore.

The announcement made on Sunday comes on the heels of Abu Dhabi National Energy Company (Taqa) backing out of the Rs. 10,500-crore deal to buy two hydro plants of debt-laden Jaiprakash Power.

Reliance Power will now be executing the deal through its 100 per cent subsidiary Reliance CleanGen. Jaiprakash Power is a subsidiary of Jaiprakash Associates Ltd. SBI Capital Markets was the advisor for the transaction.



HBL