CLP India, a subsidiary of Hong Kong based China Light and Power Group, has raised INR 3,900 crore from a consortium of 15 banks to fund a 1,320 MW coal fired project at Jhajjar in Haryana.

The Jhajjar project is expected to entail a total investment of INR 5,500 crore. A consortium of 15 banks led by Industrial Development Bank of India has agreed to lend INR 3,900 crore and CLP India will raise the rest of the funds as its equity.

SEPCO will be supplying boilers, turbines and generators while Shangdong Tiejun Electric Power Company is the EPC contractor for the project. Around 90 per cent of its electricity output is to be supplied to Haryana. Unit I is scheduled to be commissioned by December 2011 and Unit II by May 2012.

The company is also planning a 1,060 MW gas based power project near its existing facility at Paguthan, Gujarat at a cost Rs 4,000 crore. According to sources, the company is in discussions with Reliance Industries for gas supplies from the KG-D6 basin and other gas suppliers to ensure fuel linkage for Phase II of Paguthan. The project has already received environmental clearance and has adequate land at the existing facility to set up the second phase. CLP hopes to start construction during this year.

Further, CLP India is setting up a 450 MW of wind power capacity in Gujarat, Rajasthan and Karnataka with INR 2,500 crore of investments.

(Sourced from Project Today)