Kundan Green Energy acquires 11.5 MW Waste-to-Energy plant in Madhya Pradesh

Kundan Green Energy has acquired Jabalpur MSW Pvt. Ltd., a well-established Waste-to-Energy plant that was previously operated and maintained by Essel Group. The acquisition was completed through proceedings of the National Company Law Tribunal (NCLT) earlier this month.

Kundan Green Energy held that the acquisition process was carried out under the Insolvency and Bankruptcy Code (IBC) and was initiated by the State Bank of India.

The Jabalpur Waste-to-Energy plant is recognized as one of the successful projects of its kind in India. With an installed capacity of 11.5 MW, the plant is capable of processing approximately 450 tons of municipal solid waste per day.

The Waste-to-Energy plant is equipped with advanced Hitachi technology, ensuring the use of high-end equipment that guarantees efficiency, reliability, and consistent operational performance.

Under the operational framework, the Jabalpur Municipal Corporation will supply the municipal waste needed to fuel the activities of Waste-to-Energy plant. The electricity generated from the processed waste will be fed directly into the grid managed by the Madhya Pradesh Electricity Regulatory Commission. The project is expected to significantly reduce the volume of waste accumulating at landfill sites in Jabalpur, contributing to a cleaner and greener environment.

Through this initiative, Kundan Green Energy is aligning its vision and mission with India’s Environmental, Social, and Governance (ESG) targets, supporting long-term sustainability goals.

Udit Garg, MD, Kundan Green Energy, said, “Waste-to-energy solutions are the need of the hour, and this facility has immense potential. Our goal is to optimize its operations, maximize efficiency, and contribute to India’s renewable energy landscape. The said acquisition aligns to our target of achieving 300MW by FY27. The company is acquired at an estimated cost of Rs 65 crores which will generate a revenue of Rs 35 crores and EBITDA of more than Rs 20 crores. This marks a significant step forward to achieve the revenue target of Rs 400 crores by FY27.”

Through this acquisition, the company claims to have established its presence across key renewable energy sectors, including hydro, solar, and now waste-to-energy, further enhancing its contribution to India’s clean energy landscape.