JSW Energy announced that the company has acquired two hydro power assets of Himachal Baspa Power Company (HBPCL) from Jaiprakash Power Ventures (JPVL) for Rs 92.75 billion.

The company said, "JSW Energy has concluded the acquisition of 100% of the securities of Himachal Baspa Power Company (HBPCL) which has two operating Hydro Power assets ie 300 MW Baspa - II HEP and 1,091 MW Karcham Wangtoo HEP."

Commenting further on the acquisition, the company said, "An additional consideration of Rs 3 billion may become payable upon receipt of certain additional consents and approvals related to the Karcham Wangtoo HEP on or before Sept. 06, 2020."

"The asset value inter-alia is determined based on JPVL having agreed to pay a compensation of Rs 1.50 billion to HBPCL and the entire profits and losses of HBPCL from Sept. 1, 2015 accruing to the account of JSW Energy,"

Further the company has informed that, it has also entered into a binding Memorandum of Understanding (MoU) with JPVL to acquire 100% stake in the 500 MW Bina Thermal Power Plant located in the Sagar district of Madhya Pradesh.

Shares of the company gained Rs 6.25, or 9.23%, to trade at Rs 74.00. The total volume of shares traded was 801,293 at the BSE (1.32 p.m., Tuesday).