KSK Energy Ventures Acquisition, Valuation, Funding & Investors

KSK Energy Ventures was acquired by JSW Infrastructure for $1.9B in March 2025.

KSK Energy Ventures acquisition price

$1.9B

Acquired by JSW Infrastructure · Mar 2025

Cumulative funding KSK Energy Ventures raised

$68M

across 1 funding round

Key investors in KSK Energy Ventures

  • Lehman Brothers Venture Partners

KSK Energy Ventures Overview

About KSK Energy Ventures

KSK Energy Ventures Ltd is a power project development company. It is engaged in the development, ownership, operation, and maintenance of power generation assets in India and supplies power to industrial consumers and state-owned entities. The operating business segments are Project development and power generation. The company derives most of its revenue from Power generation segment.


Founded

2001

HQ

IndiaHyderabad

Website

ksk.co.in

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.9B (acquired Mar 2025)

KSK Energy Ventures Acquisition

KSK Energy Ventures was acquired by JSW Infrastructure for $1.9B on 6 March 2025.

Before the acquisition KSK Energy Ventures had raised $68M across 1 funding round.

KSK Mahanadi Power Company Limited (KMPCL) owns a 3,600 MW thermal power plant in Chhattisgarh, with 1,800 MW operational, another 1,800 MW under construction (one 600 MW unit 40% complete), and fuel security via long-term coal supply agreements from nearby mines in Chhattisgarh and Odisha, plus firm arrangements for water, rail, and transmission infrastructure. Admitted to corporate insolvency resolution process under the Insolvency and Bankruptcy Code in 2019 after being flagged as a stressed asset by the power ministry in 2018, KMPCL faced delays due to legal issues. JSW Energy Limited, part of the $24 billion JSW Group and a leading private-sector power producer operating 7,864 MW across thermal, wind, hydel, and solar with 8.3 GW under construction, targeted 20 GW capacity by 2030 and 10 GW operational before FY2025. JSW Energy completed the acquisition of KMPCL on March 6, 2025, through subsidiary JSW Thermal Energy One Limited, paying ₹16,084 crore to creditors in India's largest thermal power acquisition under IBC, surpassing bids from Adani Power and NTPC. The deal, approved by the Committee of Creditors, National Company Law Tribunal, and Competition Commission of India, was financed via internal accruals and debt, adding 1,800 MW operational thermal capacity to boost JSW Energy's thermal portfolio to 5,308 MW and total operational capacity to 10,200 MW. Strategic rationale includes the plant's efficiency, proximity to coal blocks, established power purchase agreements (PPAs), and reliable operations to meet India's rising energy demand, enhance baseload supply ahead of peak season, generate strong cash flows exceeding mid-teen equity IRR hurdle, and accelerate 20 GW target well before 2030 while advancing net-zero by 2050 through diversified portfolio. The transaction underscores competitive dynamics in India's power sector amid 2.77% year-over-year coal-based generation growth to 107.14 GW in December 2024, with JSW Energy positioning as a key player in thermal and renewables.

KSK Energy Ventures acquisition details
AcquirerDateTypePrice
6 Mar 2025Strategic M&A$1.9B

KSK Energy Ventures Funding History

KSK Energy Ventures has raised a total of $68M across 1 funding round.

KSK Energy Ventures funding rounds

KSK Energy Ventures funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2014Undisclosed stageLehman Brothers Venture Partners$68MKSK Energy Ventures is a power project development company with operational capacity of 601 MW planning expansion including a 3.6 GW Mahanadi power plant. The available results document KSK Energy Ventures Limited's June 2008 IPO and a 2010 secondary share placement by KSK Power Ventures PLC (LSE-listed) where shares were placed at 510 pence per share valuing the company at £775 million ($1.225 billion).

Who has invested in KSK Energy Ventures?

1 investor has backed KSK Energy Ventures across its funding rounds, including Lehman Brothers Venture Partners.


KSK Energy Ventures Investors

Investors in KSK Energy Ventures by funding rounds participated
InvestorHQRoundsRoleFirst check

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KSK Energy Ventures Competitors

KSK Energy Ventures competitors include listed companies like LandBridge, Headwater Exploration, BKV Corporation and Bangchak Corporation, and private ones like Freeport LNG and Cepsa.

Public and private companies comparable to KSK Energy Ventures
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LandBridgeUnited StatesUnited StatesPublicly listed$199M$126M$1.9B12.7x
Headwater ExplorationCanadaCanadaPublicly listed$442M$233M$1.9B4.3x
BKV CorporationUnited StatesUnited StatesPublicly listed$1.1B$510M$1.9B2.2x
Bangchak CorporationThailandThailandPublicly listed$15B$834M$1.9B0.3x
Freeport LNGUnited StatesQuintanaPrivate--$9.7B-
CepsaSpainMadridPrivate$28B$2B$12B0.4x

KSK Energy Ventures Public Comps

KSK Energy Ventures is no longer listed, but its public comps include LandBridge, CIMC Enric, Headwater Exploration, Liberty Energy, BKV Corporation, Bangchak Corporation, Verbio, Aker Solutions, Alpha Metallurgical and Cosan.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
LandBridge$199M$126M15.8x12.7x25.0x14.1x
CIMC Enric$4B$273M0.4x0.4x5.6x4.9x
Headwater Exploration$442M$233M4.3x4.3x8.1x6.2x
Liberty Energy$4B$736M0.9x0.8x4.7x6.1x
BKV Corporation$1.1B$510M3.0x2.2x6.8x6.6x
Bangchak Corporation$15B$834M0.4x0.3x7.2x2.7x
Verbio$2.1B$217M1.0x0.9x9.3x8.3x
Aker Solutions$6.7B$507M0.3x0.3x3.3x3.3x

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Common questions about KSK Energy Ventures

When was KSK Energy Ventures founded?KSK Energy Ventures was founded in 2001.
Where is KSK Energy Ventures headquartered?KSK Energy Ventures is headquartered in Hyderabad, India.
Is KSK Energy Ventures publicly listed?No, KSK Energy Ventures was acquired by JSW Infrastructure in March 2025.
Who acquired KSK Energy Ventures?KSK Energy Ventures was acquired by JSW Infrastructure in March 2025.
How much was KSK Energy Ventures acquired for?KSK Energy Ventures was acquired for $1.9B in March 2025.
How much funding has KSK Energy Ventures raised?KSK Energy Ventures has raised $68M across 1 funding round.
What was KSK Energy Ventures' last funding round?KSK Energy Ventures' last funding round was a $68M undisclosed-stage round in June 2014.
Who are KSK Energy Ventures' investors?KSK Energy Ventures' investors include Lehman Brothers Venture Partners.
Which companies are comparable to KSK Energy Ventures?Companies comparable to KSK Energy Ventures include LandBridge, Headwater Exploration, BKV Corporation, Bangchak Corporation, Freeport LNG and Cepsa.

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