JSW Energy has signed binding memorandum of understanding (MoU) with Jaiprakash Power Ventures to acquire three operating plants. These three plants are having an aggregate capacity of 1,891 MW.

Earlier on Thursday, JP Power said it has called off talks Anil Dhirubhai Ambani Group (ADAG) for sale of hydropower assets owing to differences on commercial aspects of assets sale. That attracted heavy selling in both the counters yesterday.

The JSW will buy 100% holding in three operational plants of JPVL, namely 300 MW Baspa-II Hydro Electric Plant, 1091 MW Karcham Wanftoo Hydro Electric plant and 500 MW Bina Thermal Power plant.

JSW Energy is a part of an USD 11 billion conglomerate OP Jindal Group. The Group has set up business facilities in various core sectors of India.

Shares of JSW Energy declined Rs 1.6, or 2.21%, to trade at Rs 70.70. The total volume of shares traded was 343,404 at the BSE (9.58 a.m., Friday).