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Jindal Power mulls Rs 1,500 cr power project in Nepal

Press Trust of India  |  New Delhi 

Naveen Jindal-led Jindal Power is looking to set up a hydro-power project in Nepal at an estimated cost of Rs 1,500 crore as part of its multi-billion dollar programme in the energy space.

"In Nepal, we have got a license and we are doing the due diligence. We are looking to install a 220-MW hydro-power project in Chainpur Seti, Nepal," Jindal Power Deputy Managing Director Sushil Maroo told PTI. He said the project would cost around Rs 1,500 crore.

In India, the company has lined up projects worth an estimated Rs 65,000 crore, which includes as many as three hydel power projects with a proposed capacity of 6,100 MW.
    
"We will import the entire power to India. But the terms and conditions are yet to be finalised... The Nepal government may demand something," Maroo added.

    
India has an installed power production capacity of around 1.57 lakh MW and is targeting the addition of another 78,000 MW by 2011-12 to meet the growing demand.
    
"If everything goes all right, work on the project could start in one-and-a-half years' time," Maroo said.
    
In the domestic space, Jindal Power will set up three hydel projects of 4,000 MW, 1,600 MW and 500 MW capacity in three phases in Arunachal Pradesh with a completion deadline of 2020.
    
These projects are to be funded by a mix of debt and equity.
    
With cumulative generation capacity of 37,000 MW, hydel power contributes about 25 per cent of the total installed power generation capacity of 1,57,000 MW in the country. Out of the total, the private sector contributes over 28,000 MW from all sources.
    
In the renewable energy space, Jindal Power is looking to start work on a Rs 7,500 crore solar project in Rajasthan by 2012. It is also scouting for locations to set up wind power projects as part of its green energy initiative, which includes solar and wind projects. It currently runs a 24-MW wind mill in Maharashtra.
    
Jindal Power is expected to launch its estimated Rs 7,200 crore initial public offer in June-July to part-fund its thermal projects in Chhattisgarh and Jharkhand.

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First Published: Sun, May 23 2010. 17:05 IST
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