Friday, August 7, 2009

Reliance Power buys Jharkhand's Tilaiya firm

The Anil Ambani-led Reliance Power fully acquired Jharkhand Integrated Power, a special purpose vehicle (SPV) floated to implement the 4,000-MW Tilaiya ultra mega power plant project, from Power Finance Corp.

The coal-based thermal power plant is being developed in Jharkhand at an estimated cost of Rs.20,000 crore.

This is the third ultra mega power plant secured by the company.

In addition, Reliance Power's two 4,000-MW ultra mega power plants are under implementation - the Sasan project in Madhya Pradesh and the Krishnapatnam plant in Andhra Pradesh.

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