The Himachal Pradesh Government has decided to permit the transfer of two major hydro power projects operated by Jaypee group to another private company JSW Energy Ltd. It has decided to allow the transfer of Karcham Wangtoo (1000 MW) and Baspa II (300 MW) hydro projects after the two had signed a pact in November 2014. Jaypee with a power bank of 1300 MW was the largest private sector player in hydro power in the country.
The power deal was signed between the two companies for Rs.9,700 crore in November last year. JSW Energy would now have 100 per cent stake in the two hydro power projects with a combined capacity of around 1,391 MW. to retire its mounting debt. Talks with Reliance Group, Adani Group and Abu Dhabi National Energy Co. TAQA were not successful for different reasons.