LNJ Bhilwara Group, has successfully acquired Statkraft’s 49 percent minority stake in Malana Power Company Limited. The acquisition makes Bhilwara Energy Limited of LNJ Bhilwara Group the sole owner of the Malana Power Company and marks a significant milestone in its journey of powering India’s clean energy future. The transaction includes Statkraft’s stake in the Malana Hydropower Plant (86 MW) and Allain Duhangan Hydropower Plant (192 MW), both located in Himachal Pradesh. These plants have been operated as 51:49 joint venture since 2004 and continue to supply flexible, clean energy to India’s growing power demand.
Speaking about the development, Mr. Riju Jhunjhunwala, Managing Director, Bhilwara Energy, said, “Our long-standing partnership with Statkraft has been one of mutual learning and shared commitment to excellence. As we assume complete ownership of the Malana Power Company assets, LNJ Bhilwara Group is strategically positioned to scale its presence in the power sale business and actively explore new opportunities in renewable energy, with growth and technology at the core. I would like to extend my gratitude to every member of Statkraft and LNJ Bhilwara Group for their contribution to these projects over the years.”