Indiabulls Power wins bid for Chhattisgarh power project

Indiabulls Power wins bid for Chhattisgarh power project

Tuesday, 18 March 2008, 07:00 Hrs
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New Delhi: Private power project developer Indiabulls Power Services Ltd has won Chhattisgarh's electricity tariff bidding race to build a 1,600 MW power project, the company said on Tuesday.

"Indiabulls Power beat competition from key power project developers, including Reliance Power and Tata Power for the project," Indiabulls Group spokesperson Gagan Banga told IANS.

"The project is to be located near Bhaiyathan village of the Surguja district. It will meet its coal requirement from a nearby captive mine, which is estimated to have coal reserves of 350 million tonnes," he said.

"The private developer will be required to sell 65 percent of power generated from the plant to the state distribution companies. It can sell the balance power to private consumers," Banga said.

"The company already has power projects with a total capacity of 4,000 MW under construction in various states including Maharashtra," he added.

Indiabulls Power is a unit of Indiabulls Real Estate.
Source: IANS
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