Kundan Green Energy has announced the acquisition of M/S Jabalpur MSW Pvt. Ltd., a well-established Waste-to-Energy plant that was previously operated and maintained by M/S Essel Group. The acquisition was completed through proceedings of the National Company Law Tribunal (NCLT) on 4th April 2025. This strategic move reinforces Kundan Group’s commitment to sustainable power generation and efficient waste management practices. 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 (±10%) of municipal solid waste per day. It 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 plant’s activities. 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.
Mr. Udit Garg, Managing Director of Kundan Green Energy, said in a statement, “This marks a significant step forward for us. 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 INR 65 crores which will generate a revenue of ~INR 35 crores and EBITDA of more than INR 20 crores. This marks a significant step forward to achieve the revenue target of INR 400 crores by FY27.”
Kundan Green Energy has consistently focused on innovation and sustainable development. The acquisition of the Jabalpur plant not only strengthens its mission of delivering clean energy but also serves as an example of effective waste management. With its expertise and proactive approach, Kundan Green Energy is well-positioned to play an important role in India’s renewable energy transition. Through this acquisition, the company has 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.
