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News Brief | March 2014

Jaypee in talks to sell power plants for $2 billion

Indian construction and power company Jaypee Group is in talks with a consortium led by the United Arab Emirates' Abu Dhabi National Energy Co to sell two hydroelectric plants in north India for as much as $2 billion. Jaypee, which is looking to unload assets to pay off debt, had initially considered selling a 51 per cent stake in the hydro projects, but is now trying to sell 100 per cent to the group led by Abu Dhabi National Energy, also known as Taqa, the Arabic word for energy.
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