"In what would be the biggest signal of a revival of strategic foreign interest in distressed Indian power firms after a long hiatus, Abu Dhabi government's flagship public utility holding company Abu Dhabi Water & Electric Authority (ADWEA) has emerged as the frontrunner to acquire two mega operating hydro-power projects in Himachal Pradesh from the diversified infrastructure conglomerate Jaypee Group.
Jaypee's listed power arm Jaiprakash Power Ventures Limited (JPVL) - also the country's largest private sector hydro-power producer with 1.7 giga watts (GW) operational capacity -- is in advance negotiations with ADWEA and its underlying operating companies to sell the 300 mega watts (MW) Baspa II and the 1000 MW Karcham Wangtoo project on the Sutlej river for around Rs 12,000 - Rs 13,000 crore ($1.84 -$2 billion at Rs 65/dollar conversion), said multiple sources involved. The total project cost for the two is close to Rs 8900 crore, which includes Rs 2600 crore equity.
'via Blog this'
No comments:
Post a Comment