Jindal Power seeks to sell stake in Arunachal hydro project
According to the Hindu Business Line, Jindal Power Limited, a subsidiary of Jindal Steel and Power Limited (JSPL), is looking to sell its entire stake in the 1,800 MW Kamala hydro electric power project in Arunachal Pradesh, India.
The firm has not officially commented on the exact percentage of equity stake it plans to sell. JSPL won the Kamala scheme in late November 2009. The project has been delayed due to regulatory and financing issues. The mentioned source has reported that JSPL has made steps to offer the stake in the Hydropower project to Satluj Jal Vidyut Nigam Ltd.
The Kamala Hydroelectric Project, is located in Lower Subansiri District of Arunachal Pradesh, just upstream of Tamen village which is about 55 km from Ziro.
The project involves a 216 m high concrete gravity dam. The dam comprises 37 concrete gravity blocks and measures 628 m along the crest. The underground powerhouse acommodate eight Francis turbine-driven generating units of 216 MW each.
The total investment was estimated at Rs201.4 billion (US$4.3 billion, 2009 rate).
JSPL has signed agreements to develop the 3097 MW Etalin, 1800 MW Kamala, 680 MW Attunli and 22 MW Anonpani Hydroelectric projects in Arunachal Pradesh in a joint venture with Hydro Power Development Corporation of Arunachal Pradesh Ltd (a Government of Arunachal Pradesh Enterprise) on a build, own, operate and transfer basis. The 3097 MW Etalin Hydroelectric Project will be the largest hydroelectric project in India.
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