As the need for coal-fired electricity increases, Jindal electricity is vying with Sev.en Global Investments of the Czech Republic to purchase the 1,320-MW Jhajjar thermal power project in Haryana from Apraava Energy (previously CLP India).

Due diligence is still being done by the two possible purchasers, and the asset is probably worth Rs 4,000 crore.

A few other companies, including as JSW Power, NTPC, and a few international infrastructure investors, had also looked into the deal at first but didn't follow through.

Apraava is receiving advice on the sale process from HSBC and Axis Capital.

The Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) and the Hong Kong-based CLP (previously China Light & Power) Group jointly own Apraava Energy. Its 3,000 MW portfolio is made up of both renewable and fossil fuel generation.

Since 2012, the 1,320 MW power facility in the Jhajjar district has been in commercial operation. Haryana receives 90 percent of the plant's production, with the remaining 10 percent going to Tata Power Trading Company.

According to the company website, Jhajjar Power is the first plant in the National Capital Region (NCR) to install flue gas desulphurization (FGD) technology.

The goal of this installation is to reduce air pollution and contribute to a healthy environment around the plant and its surrounding areas.

 

Located across four continents, Sev.en Global projects is a Tykac family-owned investment business that specializes in thermal power plant projects worldwide. Around the world, Sev.en Group runs lignite quarries, thermal plants, and lignite power plants.

It mines 10 million tons of coal annually and has a total installed generation capacity of 5.8 GW.

Pavel Tykac, the founder of Sev.en, is a well-known Czech businessman and investor in the mining and energy industries.

In Tamnar, Chhattisgarh; Shirpur, Maharashtra; and Simhapuri, Andhra Pradesh, the Naveen Jindal Group runs 4,300 MW of thermal power capacity under Jindal Power. By 2030, the Jindal Group also plans to build storage facilities, produce green hydrogen on a big scale, and add 12 GW of renewable power capacity.

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For $365 million, CDPQ purchased a 40% investment in CLP India in 2018. In 2022, it added another stake to raise its ownership to 50%. With a 250.7 MW capacity, Apraava Energy's largest wind power facility was put into service in Sidhpur, Gujarat's Devbhoomi Dwarka district, in January. Two further wind projects in Gujarat are run by Apraava: a 100.8 MW project in Samana and a 50.4 MW project in Mahidad. In Rajasthan, the business plans to start building three solar energy plants with a total capacity of 600 MW.