Jindal Power Limited, a wholly owned subsidiary of Jindal Steel and Power, has secured loans of Rs. 5,418 Crorers for two units of its upcoming 2,400 MW Power Generation Project at Tamnar in Chhattisgarh.
The proposed Project will consist of four units of 600 MW each and will have investment requirement of around Rs. 13,500 Crores. Out of this the firs two units will cost around Rs. 7,740 Crores and are being fund with a Debt-Equity ratio of 70:30.
According to sources, all the required clearances are in place for the Project and first two units are nearing for commissioning. Both of thes units will get 65% of their coal requirement from Coal India while the balance 35% requirement will be met through imports.
Debts of Rs. 5,418 Crorers have been financed by a consortium of nine banks with State Bank of India as lead banker.
According to Company officials, additional 600 MW unit is also being tried to be commissioned during current fiscal howver it is yet to secure a coal linkage.
Updates on Jindal Power:
- Current generation capacity of 1,000 MW at the same location which is being operated at Plant Load Factor (PLF) of over 95% for the past two years; power from the project is being sold through short and medium term power purchase agreements.
- Company is targeting 10,000 MW of generation capacity by 2020 at an investment of about Rs 70,000 to 80,000 Crores.
- Out of that about 7,000 MW of the new capacity will be added in India, either by setting up a new plant or acquiring the existing projects, while the remainder will be developed overseas, mostly in Africa.
- The company is in talks with government agencies in Botswana and Senegal for setting up plants; the cost of generating power in African countries is about Rs 11-12 Crores per MW, compared with the Indian average of Rs 7-8 Crores per MW.
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