Statkraft Sells 49% Stake in Indian Hydropower JV to LNJ Bhilwara Group
- Statkraft sold its 49% stake in Malana Power Company to LNJ Bhilwara Group.
- The sale includes Malana (86 MW) and Allain Duhangan (192 MW) hydropower plants.
- Statkraft aims to focus investments on Europe and South America.
- LNJ Bhilwara Group plans to expand in the renewable energy sector.
Transaction Overview
Statkraft has completed the sale of its 49% minority share in Malana Power Company to LNJ Bhilwara Group. This transaction includes the Malana hydropower plant (86 MW) and the Allain Duhangan hydropower plant (192 MW) in Himachal Pradesh.
Strategic Focus
The divestment is part of Statkraft's strategy to optimize its portfolio by focusing on core markets in Europe and South America. This move aligns with their plan to divest from the Indian market.
Partnership History
Statkraft and LNJ Bhilwara Group have operated the hydropower plants as a joint venture since 2004. The partnership has been characterized by mutual learning and shared commitment to excellence.
Future Plans
LNJ Bhilwara Group aims to expand its presence in the power sale business and explore new opportunities in renewable energy. Statkraft remains committed to contributing to the global energy transition.
Source: Statkraft