Archive · 26 Dec 2025
Bhilwara Energy to Acquire 76 MW Hydro Project in Uttarakhand
Bhilwara Energy, a company from the LNJ Bhilwara Group, has signed an agreement to buy a 76 MW hydroelectric project in Uttarakhand from Statkraft.
This project is called the Phata Byung run-of-river hydroelectric project and is located in Rudraprayag district.
Once the deal is completed, Bhilwara Energy will own the project entirely.
The acquisition is still subject to some conditions.
Bhilwara Energy wants to add this project to their portfolio of environmentally friendly power projects.
Statkraft, the company selling the project, is focusing on other core markets and believes Bhilwara Energy will do a good job with the project.
Bhilwara Energy has signed an agreement to acquire a 100% stake in Mandakini Jal Urja, which is constructing a 76 MW hydro project in Uttarakhand.
The acquisition is subject to customary conditions precedent and the financial details of the deal have not been disclosed.
Upon completion, Bhilwara Energy will become the sole owner of the Phata Byung run-of-river hydroelectric project in Rudraprayag district, Uttarakhand.
Riju Jhunjhunwala, Managing Director of Bhilwara Energy, stated that the acquisition strengthens their hydropower portfolio and aligns with their long-term approach to environmentally responsible power infrastructure.
Fernando de Lapuerta, Executive Vice President International at Statkraft, mentioned that the divestment aligns with their global strategy to focus on select core markets and that they are confident in Bhilwara Energy's capability to manage the project.
- Who
- Bhilwara Energy (acquirer), Statkraft IH Holding AS (seller)
- What
- Acquisition of a 76 MW hydro project in Uttarakhand
- When
- Agreement signed on December 25, 2025
- Where
- Rudraprayag district, Uttarakhand, India
- Why
- To strengthen Bhilwara Energy's hydropower portfolio and align with Statkraft's global strategy
- Project Name
- Phata Byung run-of-river hydroelectric project
- Project Capacity
- 76 MW
- Location
- Rudraprayag district, Uttarakhand
- Acquirer
- Bhilwara Energy
- Seller
- Statkraft IH Holding AS
- Acquisition Type
- 100% stake acquisition
- Acquisition Status
- Subject to customary conditions precedent
