JSW Energy to revive 240 MW hydro project at Rs. 2,500 crore

JSW Energy is planning to revive its 240 megawatt (MW) hydro power project in Chamba district of Himachal Pradesh at a cost of Rs.2,500crore. The plant, conceived in2007, was put on hold as the company could not have a long-term power purchase agreement (PPA) with the buyers. Government tender “The company has bid to supply 240 MW of the 500 MW for which bids were called by the Haryana government. We are waiting for the results, after which we will start work for the Kutehr project,” said Sharad Mahendra, COO, Energy Business, JSW Energy Limited. The company is also looking at buying stressed power assets, including hydro power projects, to expand its capacity currently at4,452MW. In2015, JSW bought Jaypee Group’s Karcham Wangtoo and Baspa power projects in Himachal Pradesh for Rs.9,700crore, making it the largest deal in the hydro power sector and JSW Energy the largest private sector player in hydro electricity generation. The 1,000 MW Karcham Wangtoo and 300 MW Baspa power projects now account for 17% of the company’s revenue of Rs.8,500crore and 50% of company’s bottom line of Rs. 450 crore. On the status of bids for Prayagraj Power, Mr. Mahendra said, “We have submitted revised bids to the lenders and are awaiting their reply.”

Source :  https://www.thehindu.com/todays-paper/tp-business/jsw-energy-to-revive-240-mw-hydro-project-at-rs-2500-crore/article25173686.ece

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