December 02, 2008

BILT Power to set up a 1,200MW power plant in Orissa

BS reported that Ballarpur Industries Limited’s power outfit BILT Power is planning to set up a 1,200MW independent power plant in Orissa at an investment of around INR 6,000 crore. Discussion for the project is at the highest levels of Orissa government and a MoU is expected to sign soon.

BILT Power has already cleared the screening committee process for setting up the plant and requirements for setting up the independent power plant in Choudwar in Orissa on 950 acres have been forwarded to the state government. Funds for the project would be sourced through loans from banks and financial institutions in a debt equity ratio of 70:30.

Mr Anil Bhargava CEO of BILT Power said that “The detailed project report and feasibility study reports have already been submitted to the government. We are just awaiting the government nod to go ahead with the project.”

Currently, BILT Power aggregates 100MW of captive power plant capacity at Sewa in Yamunanagar in Haryana and 2 plants each at Pune and Ballarshah in Maharashtra with capacities between 25MW and 30MW each. BILT Power has also applied for allotment of coal blocks at Mandakini in the Talcher Coalfields of Orissa.