India: Stressed coal based power projects that have been revived [Dec 2019]

Last Modified: 13-Jan-2020 4:15 AM

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Number of coal based power projects that have been revived since being declared as stressed assets (unable to service their debt).
6,440 MW
Commissioned generation capacity of the all the stressed projects combined.
Rs. 38,068 crores
Total outstanding debt of the stressed projects prior to being revived.
600 MW
Avantha Group's Korba West Power Plant in Chhattisgarh has an outstanding debt of Rs. 3,099 crore. The entire capacity was commissioned as on 31 March 2014. Adani Power received a Letter of Intent (LoI) 06 Apr 2019, to acquire the insolvent plant after the Committee of Creditors (CoC) approved Adani's resolution plan.
1,080 MW
Adhunik Power & Natural Resources Limited's Mahadev Prasad Thermal Power Project in Jharkhand had a debt of Rs. 3,116 crore owed to 24 lenders. Edelweiss Group acquired a majority stake in the company in Jul 2017.
1,370 MW
GMR Energy's Raikheda Thermal Power Station in Raipur district of Chhattisgarh had an outstanding debt of Rs. 8,892 crore owed to 15 banks. Adani Power completed acquisition at an enterprise valuation of approx. Rs. 3,530 crore on 02 Aug 2019.
1,980 MW
Jaypee Group's Bara Thermal Power Plant in Bara, Allahabad, Uttar Pradesh had an outstanding debt Rs. 11,494 crore. Resurgent Power Ventures (backed by Tata Power and ICICI Bank), acquired more than 75% stake of the project, valued at more than Rs 9,000 crore (including tax liabilities) on 14 Nov 2018.
2,700 MW
Rattan India Power's Amravati Thermal Power Project, located at village Nandgaonpeth, Amravati district, Maharashtra. had an outstanding debt of Rs. 6,575 crore. Aditya Birla Asset Reconstruction Company (ARC) to take over the power plant’s balance Rs 4,050-crore debt with funding from foreign funds including Goldman Sachs and Varde Partners - Dec 2019.
1,200 MW
SKS Power's (4 x 300 MW) Binjkote Thermal Power Plant located at villages Binjkote & Daramurra, Raigarh District, Chhattisgarh had an outstanding debt of Rs. 4,892 crore. Agritrade Resources Ltd, a Singapore-headquartered and Hong Kong-listed company, announced 14 Nov 2018, it has agreed to acquire the project as well as some of its loans for a total of Rs 2,170 crore. This would mean lenders would get 57% less than the loan outstanding.

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Posted by Coal Numerical in Energy

Tags Power Sector Thermal Power Projects Stressed Assets Stranded Projects Coal Fired Power Plants India

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