With the increasing focus on renewable energy, hydroelectric power is being looked upon as a valuable investment in the Energy Sector today. In recent news, two important hydroelectric power projects owned by the Noida-based Jaypee Group Conglomerate will be purchased by the Mumbai-based JSW Energy Group.
The two hydro-projects that have been chosen for the buyout include the Karcham Wangtoo Hydro Project of 1091 MW and the Baspa (II) project of 300 MW. Both of these are extremely strategic hydroelectric plants as far as their location and power output is concerned, and these have been purchased by JSW Energy for a total value of approximately 97,000 crores.
Other Projects of the Jaypee Group
The other hydropower projects owned by the Jaypee group include the very famous Sardar Sarovar Dam, which happens to be the largest concrete dam in India, built upon the River Narmada in Navagam, Gujarat. Yet another landmark dam owned by the group is the Asia’s highest Rockfill dam, the Tehri Dam on the River Bhagirathi located near Tehri in Uttarakhand.
The JSW Group
The JSW Group is an 11 Billion-Company with its headquarters in Mumbai, and it has several verticals in the sectors of Energy, Steel, Cement and Infrastructure.
There a number of existing as well as working projects of these groups in the Indian states of Himachal Pradesh, Chhattisgarh, West Bengal and Uttarakhand. The gross yearly revenue earned by the group on all its projects is collectively estimated at 1.4 billion USD, and it is one of the most crucial private companies in the energy sector of India.