Kundan Green Energy Private Limited has acquired Jabalpur MSW Private Limited, a waste-to-energy plant formerly operated by the Essel Group. The acquisition was completed through National Company Law Tribunal proceedings under the Insolvency and Bankruptcy Code, 2016, through a process initiated by the State Bank of India. The plant, located in Jabalpur, has an installed capacity of 11.5 MW and is capable of processing approximately 450 tonnes of municipal waste per day. It is equipped with Hitachi technology, enhancing operational efficiency and reliability.
The facility receives its waste input from the Jabalpur Municipal Corporation, while the electricity generated is supplied to the Madhya Pradesh Electricity Regulatory Commission’s grid. The plant is expected to reduce waste accumulation at landfill sites in Jabalpur. The acquisition is valued at around Rs 650 million, with projected revenue of approximately Rs 350 million and earnings before interest, tax, depreciation and amortisation exceeding Rs 200 million.
Kundan Group, established in 1971, is a renewable energy developer that primarily operates across three renewable verticals — hydro, solar, and waste-to-energy. The company has an annual turnover exceeding Rs 300 billion and is present across several states, including Himachal Pradesh, Gujarat, Tamil Nadu, Sikkim, Karnataka, and Uttarakhand. With an existing operational portfolio of over 125 MW, the company aims to reach a total capacity of 300 MW and generate Rs 4 billion in revenue by financial year 2027.
