Author: PPD Team Date: 09/04/2025
Kundan Green Energy has taken over an 11.5 MW operational waste-to-energy plant in Jabalpur, Madhya Pradesh. The acquisition was made through insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. The process was initiated by the State Bank of India and completed via the National Company Law Tribunal.
The acquired facility, previously operated by the Essel Group under Jabalpur MSW Private Limited, processes about 450 tonnes of municipal solid waste each day. The electricity it generates is supplied to the Madhya Pradesh Electricity Regulatory Commission’s grid. The plant uses Hitachi technology to improve efficiency and reliability.
Located in Jabalpur, the plant receives waste from the Jabalpur Municipal Corporation. It is expected to help reduce the pressure on landfill sites by converting solid waste into power. The deal is valued at around Rs 650 million. The plant is projected to generate annual revenue of about Rs 350 million, with earnings before interest, tax, depreciation, and amortisation (EBITDA) of more than Rs 200 million.
Kundan Group, established in 1971, is active across hydro, solar, and waste-to-energy sectors. Its renewable energy portfolio spans over 125 MW in states such as Himachal Pradesh, Gujarat, Tamil Nadu, Sikkim, Karnataka, and Uttarakhand. The company aims to grow its total installed capacity to 300 MW and reach Rs 4 billion in revenue by financial year 2027. Its current annual turnover exceeds Rs 300 billion.