Bhilwara bags 2 HP power deals

MUMBAI: Malana Power Co Ltd (MPCL), a subsidiary of Bhilwara Energy Ltd, has bagged two more hydro power projects in Himachal Pradesh — 200 MW Bara Banaghal on Ravi basin in Chamba district and 140 MW Chango Youngthang in the Satluj valley.

The projects would need Rs 2,200 crore and the company will bring in  equity of over Rs 650 crore.  The state government had invited bids for four projects totalling 628 MW

The two projects will take MPCL’s power generation capacity to 618 MW in the Himachal Pradesh and over 1,000 MW in the country.

When completed, by end-2012, the two projects would generate 1,500 million units of energy annually at 50% plant load factor.

Ravi Jhunjhunwala, LNJ Bhilwara group chairman said, “We have set a target of achieving 1,500 MW capacity by 2012 and winning of plants in Himachal Pradesh will increase our determination in achieving the goal.”

“We are hopeful to submit the DPR (detailed project report) for the two projects for approval to government by mid-2008,” he added.

The projects have been awarded on build, operate, own and transfer basis for 40 years. The company would pay royalty in the form of free power from the projects to the Himachal government.

The group is involved in power projects in Punjab, Rajasthan, Arunachal Pradesh , Madhya Pradesh and Chhattisgarh and currently operates over 150 MW of capacity based on thermal and wind energy and waste heat recovery.