The race to acquire Athena Demwe Power, which owns the crucial 1,750-MW Lower Demwe hydroelectric project in Arunachal Pradesh, is heating up with six major companies in contention. Vedanta, Jindal Power, a JSW Energy arm, Greenko Energies, THDC India, and Orissa Metaliks are vying for the asset through the insolvency resolution process. The project, delayed due to environmental and forest clearance issues, holds significant strategic value. Athena Demwe, which has over ₹567 crore in liabilities, has faced setbacks in the insolvency process, including a failed revival plan.
