Current Affairs In Detail

CCI approved acquisition of GMR Kamalanga Energy Limited by JSW Energy Limited
CCI approved acquisition of GMR Kamalanga Energy Limited by JSW Energy Limited

GMR Kamalanga Energy Limited is engaged in the generation of power through its coal-based thermal power plant at Kamalanga village, Odisha.

08 April 2020 Current Affairs:The Competition Commission of India (CCI) has approved the acquisition of GMR Kamalanga Energy Limited, the target, by JSW Energy Limited, the acquirer. The acquisition was done under Section 31(1) of the Competition Act, 2002 on 7 April.

Acquisition:
As per the move, JSW Energy Limited acquires the 100% shareholding of the GMR Kamalanga Energy Limited. JSW has a power generation capacity of 4,541 MW comprising of a portfolio of thermal (3,140 MW), hydro (1,391 MW) and solar (10 MW).
GMR Kamalanga Energy Limited is engaged in the generation of power through its coal-based thermal power plant at Kamalanga village, Odisha.

JSW Energy Limited:
Founded: 1994
Headquarters: Mumbai, India
Chairman: Sajjan Jindal
JSW Energy is in various areas of power including Generation, Transmission, and Trading. The operational generating capacity of JSW Energy is 5681 MW. The products of the company include Electricity Generation and transmission, Hydroelectricity, energy trading, Mining, Power Plant Equipment Manufacturing.