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Sunday, March 2, 2014

JP Power Ventures going to Sell 2 Hydro Power plants to TAQA


JP Group, JP Power Ventures limited is going to sell 2 of its Hydro plants of Capacity 1391 MW to  Abu Dhabi National Energy Company TAQA Led consortium for Rs 10,000 crore i.e. 1.6 billion dollars. 

The power plants are:-
à Baspa Stage II – 300 MW Capacity
àKarcham Wangtoo- 1000 MW Capacity
JP Hydro also had 400 MW plant in Vishnuprayag (Uttarkhand) which was destroyed during last year in June by floods and landslides
Important Features of Deal:-
à By that Deal TAQA will now hold up 51% stake and will also control Operation and Maintenance of both Hydro Power plants. 39% equity is held by one of Canada’s largest institutional investors and 10% Held by IDFC Alternatives’ India Infrastructure Fund II .
è TAQA led Consortium will invest Rs 3820 Crore i.e. 616 million dollars for 51% stake in 2 hydro-plants and remainder is primarily non-recourse project debt
è Ernst & Young (EY) were the advisors to the deal.
è After Completion of deal TAQA’S gross Generation Capacity in India will be Total 1741 MW.
è In 1741 MW they had 3 Hydro Power plants and 1 Lignite Power plant. In another Hydro Power Plant which TAQA Acquired last year is Named as Sorang hydroelectric plant.
è Two Power plants which TAQA acquired from JP Power are 35 distance away from Sorang Hydroelectric plant.

è All formalities in acquisition will be completed in this Financial year.

JP Group is in hurry to pay off all debt as earlier as possible JP Power Ventures has debt of Rs. 19000-20000 Crore  JP group expected it to reduce to Rs 5000 crore this financial year by paying Rs 15000 crore this financial year after deal with TAQA.


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JP Power Ventures going to Sell 2 Hydro Power plants to TAQA


JP Group, JP Power Ventures limited is going to sell 2 of its Hydro plants of Capacity 1391 MW to  Abu Dhabi National Energy Company TAQA Led consortium for Rs 10,000 crore i.e. 1.6 billion dollars. 

The power plants are:-
à Baspa Stage II – 300 MW Capacity
àKarcham Wangtoo- 1000 MW Capacity
JP Hydro also had 400 MW plant in Vishnuprayag (Uttarkhand) which was destroyed during last year in June by floods and landslides
Important Features of Deal:-
à By that Deal TAQA will now hold up 51% stake and will also control Operation and Maintenance of both Hydro Power plants. 39% equity is held by one of Canada’s largest institutional investors and 10% Held by IDFC Alternatives’ India Infrastructure Fund II .
è TAQA led Consortium will invest Rs 3820 Crore i.e. 616 million dollars for 51% stake in 2 hydro-plants and remainder is primarily non-recourse project debt
è Ernst & Young (EY) were the advisors to the deal.
è After Completion of deal TAQA’S gross Generation Capacity in India will be Total 1741 MW.
è In 1741 MW they had 3 Hydro Power plants and 1 Lignite Power plant. In another Hydro Power Plant which TAQA Acquired last year is Named as Sorang hydroelectric plant.
è Two Power plants which TAQA acquired from JP Power are 35 distance away from Sorang Hydroelectric plant.

è All formalities in acquisition will be completed in this Financial year.

JP Group is in hurry to pay off all debt as earlier as possible JP Power Ventures has debt of Rs. 19000-20000 Crore  JP group expected it to reduce to Rs 5000 crore this financial year by paying Rs 15000 crore this financial year after deal with TAQA.