Jaypee Group's 3x660 MW Bara Thermal Power Plant located in Bara, Allahabad, Uttar Pradesh. Two units of the plant totalling 1,320 MW were commissioned February and September 2016, respectively. The third unit supposed to come in 2017 is yet to be constructed.
Project entered into a 25-year PPA with 5 distribution utilities of Uttar Pradesh for sale of 90% of power generated.
Fuel supply agreement executed with Northern Coalfields (NCL) for supply of 6.95 MTPA of coal.
Delay in commissioning of the project because of delays in land transfer by Uttar Pradesh, slow equity infusion by the promoter, increase in foreign exchange variation, rate of interest, cost of equipment and labour as per contract and interest during construction due to time overrun.
Rs. 11,494 crore
total debt owed lenders. The State Bank of India is the lead lender, and other bankers in the consortium with exposure of more than Rs 500 crore are Punjab National Bank, Indian Overseas Bank, Bank of India, LIC and the Union Bank of India. Debt resolution has commenced outside the National Company Law Tribunal (NCLT).
Rs. 6,086 crore
Offered by Resurgent Power Ventures - backed by Tata Power and ICICI bank - for 75% of the asset.
Rs. 6,200 crore
Offer from JSW. Both the companies have accepted to bear the plant’s tax liabilities of about Rs 2,856 crore.
14 Nov 2018
Tata Power announced that Renascent Power Ventures, a wholly owned subsidiary of Resurgent Power Ventures (backed by Tata Power and ICICI Bank), has signed a share purchase agreement of more than 75% stake of the project. The acquisition was valued at more than Rs 9,000 crore (including tax liabilities).