Jindal Power to Acquire 1,350 MW Jhajjar Thermal Plant from Apraava Energy

Jindal Power Ltd (JPL) is set to acquire the 1,350 MW Jhajjar Power Project in Haryana from Apraava Energy (formerly CLP India), in one of India’s biggest recent thermal power deals.

Although the companies have not disclosed the deal value, sources estimate the transaction at around INR 4,000 crore. JPL emerged as the frontrunner after signing an exclusivity agreement with Apraava earlier this year, competing with Czech-based Sev.en Global Investments for the asset. The deal, expected to close within a month, underscores JPL’s strategy to strengthen its base-load power portfolio amid sustained demand for thermal power. Axis Capital and HSBC advised Apraava on the sale process.

According to filings, the boards of Jhajjar Power Ltd. a subsidiary of Apraava Energy, and Jindal Jhajjar Power Ltd., a wholly owned JPL unit, approved the transfer of the company’s entire paid-up share capital. The deal also includes two other Apraava subsidiaries: Apraava Renewable Energy Private Limited and Kohima-Mariani Transmission Ltd.

Commissioned in 2012, the Jhajjar plant was among India’s first supercritical thermal projects, built at an investment of about USD 1.2 billion. The plant supplies 90 percent of its electricity to Haryana utilities and the rest to Tata Power Trading Company. It was also the first facility in the National Capital Region to adopt flue gas desulphurisation (FGD) technology to curb emissions.

For Jindal Power, the acquisition adds significant scale to its existing 4,300 MW thermal capacity across Chhattisgarh, Maharashtra, and Andhra Pradesh. The group is simultaneously pursuing a clean energy transition, aiming for 12 GW of renewable capacity, alongside energy storage and green hydrogen initiatives, by 2030.