HEG Ltd announced that LNJ Bhilwara Group, an associate company, acquired Statkraft’s 49% stake in Malana Power Company Limited. With this transaction, Bhilwara Energy Limited, part of the LNJ Bhilwara Group, has become the sole owner of the company.
The deal covers Statkraft’s stake in two key hydropower projects in Himachal Pradesh — the Malana Hydropower Plant (86 MW) and the Allain Duhangan Hydropower Plant (192 MW). These plants, jointly operated since 2004 under a 51:49 partnership, continue to play a vital role in supplying clean and flexible energy to meet India’s rising electricity demand.
The acquisition aligns with Statkraft’s global strategy to divest its India platform and focus on markets where it can scale operations and strengthen long-term competitiveness. The Norwegian state-owned renewable energy company had earlier indicated plans to exit its Indian ventures as part of this strategy.
For LNJ Bhilwara Group, the move further strengthens its leadership in India’s hydropower sector. With over two decades of experience in renewable energy, the Group has consistently worked to accelerate the adoption of clean energy solutions. This acquisition reinforces its commitment to supporting India’s sustainable growth and energy transition.
