Home > Power > Essar Energy may buy Navbharat’s power project

Essar Energy may buy Navbharat’s power project

Essar Energy is considering buying Navbharat’s power project in Orissa for around Rs 200 crore. Initially, the company would acquire a 76 per cent stake and the rest will be acquired on completion of certain project milestones

The power project to be located near Meramundali & Kharagprasad villages in Dhenkanal district is to have a capacity of 2,250 MW capacity. The project is being implemented in two phases, Phase I of 1,050 MW and Phase II of 1,200 MW, at a total estimated cost of close to Rs 9,000 crore.

The power project has been accorded joint allocation of coal block at Rampia & Dip side of Rampia by Coal India. The company has also acquired environment, forest clearances for the project. Other requirements like water, railway connectivity have been arranged as well.

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Categories: Power
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