India's JSW Energy says expects a power plant deal by Feb

JSW Ispat Special Products

20/01/2016 13:18

MUMBAI, Jan 20 (Reuters) - India's JSW Energy Ltd  JSWE.NS  
said on Wednesday it expected to announce a deal by February to 
buy a thermal power plant as discussions continue for two such 
plants. 
    JSW Energy is doing due diligence for Jaiprakash Power 
Ventures Ltd's  JAPR.NS  Bina thermal power plant in central 
India, and Monnet Ispat and Energy Ltd's  MNET.NS  power plant 
in eastern India.  urn:newsml:reuters.com:*:nL4N11E2Y8 
    "We expect to give some news very shortly on one of them by 
next month," JSW Energy Chief Executive Officer Sanjay Sagar 
told reporters on Wednesday as the company reported a 15.5 
percent fall in third-quarter net profit.  urn:newsml:reuters.com:*:nWNBS01XFA 
    A deal will take JSW Energy's total power production 
capacity to more than 5,000 megawatt but will also increase its 
debt burden.  
    The company's current net debt of 155 billion rupees ($2.3 
billion), or a debt to equity ratio of 1.8, was "comfortable", 
said finance chief Pramod Menon, although it may need to raise 
fresh capital after an acquisition. 
  
($1 = 67.9912 Indian rupees) 
 
 (Reporting by Promit Mukherjee) 
 ((Promit.Mukherjee@thomsonreuters.com; +91-22-6180-7516;)) 
 
Keywords: JSW ENERGY DEALS/POWERSTATION