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How energy crunch altered Jindal Power’s fortunes

From less than 40 percent in FY16, utilisation levels rose to 49.7 percent in FY22 and further to 58.7 percent in May

June 24, 2022 / 09:24 AM IST
How energy crunch altered Jindal Power’s fortunes

(Representative image)

When Jindal Steel & Power sold its electricity generation subsidiary Jindal Power to the promoter group, investors saw it as good riddance. The power unit was losing money and Jindal Steel’s efforts to sell it to JSW Energy fell through. Moreover, the sale will strengthen Jindal Steel’s balance sheet. But as Jindal Steel concludes the sale, the power unit is seeing a revival of sorts. So much so it is even in the market to buy troubled power plants. What has brought about...

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