LNJ Bhilwara Acquires Statkraft’s 49% Stake in Malana Hydro JV | Renewable Energy Expansion.
Sunday, October 19, 2025
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Strengthening Clean Power – LNJ Bhilwara Charts New Growth in Renewables.

LNJ Bhilwara Acquires Statkraft’s 49% Stake, Takes Full Control of Malana Hydro JV.                                                                                                                                       

The LNJ Bhilwara Group has acquired Statkraft’s 49% stake in Malana Power Company, taking full ownership of the hydro power joint venture. The deal marks Statkraft’s exit from India as the Norwegian state-owned utility, Europe’s largest renewable power generator, has put all its Indian assets on the block. Malana Power Company operates two hydro plants with a combined capacity of ~300 MW in Himachal Pradesh. Since 2004, the plants were run under a 51:49 JV between LNJ Bhilwara and Statkraft, supplying clean and flexible energy to India’s growing power demand.“With complete ownership of Malana Power Company, we are strategically positioned to scale our presence in the power sale business and explore new renewable opportunities,” said Riju Jhunjhunwala, Managing Director, Bhilwara Energy. The acquisition underlines LNJ Bhilwara’s commitment to expanding its footprint in India’s renewable energy sector, aligning with the country’s long-term clean energy transition goals.

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