Bhilwara Energy Goes All-In on 76 MW Uttarakhand Hydro Project

LNJ Bhilwara Group, through its subsidiary Bhilwara Energy, has entered into an agreement to acquire a 100 per cent stake in Mandakini Jal Urja, the developer of a 76 MW hydropower project in Uttarakhand.

The acquisition, for an undisclosed consideration, involves the purchase of the entire equity holding from Statkraft IH Holding AS, subject to customary conditions precedent. Upon completion of the transaction, Bhilwara Energy will become the sole owner of the run-of-river Phata Byung Hydroelectric Project located in Rudraprayag district.

The deal is expected to significantly strengthen Bhilwara Energy’s renewable energy portfolio and underscores its long-term commitment to investing in clean, reliable and environmentally responsible power assets. Commenting on the acquisition, Riju Jhunjhunwala, Managing Director of Bhilwara Energy, said it reinforces the company’s focus on dependable and sustainable power infrastructure.

For Statkraft, the divestment aligns with its global strategy to streamline international operations and concentrate on select core markets. Headquartered in New Delhi, the LNJ Bhilwara Group has a diversified presence across power, renewables, graphite and textiles.

News by Rahul Yelligetti.