Reliance power signs MoU to acquire hydro power

 Reliance CleanGen Ltd. (RCL), a 100 per cent subsidiary of Reliance Power Ltd., and Jaiprakash Power Ventures Ltd. (JPVL), a subsidiary of Jaiprakash Associates Ltd. (JAL), has announced the signing of an exclusive Memorandum of Understanding (MoU), for the 100 per cent acquisition by RCL of the entire hydroelectric power portfolio of JPVL’s hydroelectric power portfolio has an aggregate capacity  of nearly 1,800 MW, fully in operation, the largest in the private sector in India, and with an asset base of over Rs. 10,000 crore.
JAL intends to utilise the entire proceeds of the proposed transaction to reduce its outstanding debt, and thereby deleverage its consolidated balance sheet.

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