3 August

JSW Energy has terminated the $710m (Rs53.2bn) deal to acquire GMR’s Kamalanga Energy. In a statement, JSW Energy said: “With the elapsing of the long stop date, both parties have mutually agreed to terminate the transaction, given continued uncertainty due to the Covid-19 pandemic.” The parties announced the proposed acquisition last October. GMR Kamalanga Energy operates a 1.05GW thermal plant in the Indian state of Odisha. JSW put the deal on hold in May, reported The Hindu Business Line.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

For the first time, worldwide coal-fired power generation capacity has declined. In the first half of 2020 plant closures, particularly in Europe and the US, outpaced the commencement of new units according to a report by Global Energy Monitor. At the same time, new projects were put on hold due to the Covid-19 pandemic. Although the net decline of 2.9GW is just slightly more than 0.1% of the total coal generation capacity in the world, , the report said it represents a ‘turning point’ in the electricity production.

Power plants in India used more gas in the second quarter of this year than in any quarter in the last three and a half years, according to a government data. LNG imports became cheaper than coal for the power plant operators in the west coast. According to power producers, this trend will continue until September this year as demand for LNG has fallen due to Covid-19, reported LiveMint.

Brazilian state-owned power firm Eletrobas has shown plans to invest $1.1bn every year until 2035 to expand its power generation and transmission capacity. This investment amount could also double if Eletrobas is successful in its privatisation, reported Reuters.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.