October 12, 2008

Indiabulls receives LoI for Bhaiyathan thermal power project

Projects Today reported that Indiabulls Power Generation Limited has received a letter of intent from Chhattisgarh State Electricity Board for setting up a 1,600 MW Bhaiyathan thermal power project in Surguja district.

The project includes development of captive coal mines containing proven reserves of 349 million tonnes per annum in Korba district to provide low cost coal supply to the power project. Out of the total power produced from the project, around 35% of power will be available for merchant sale at market rates and the remaining 65% will be sold to CSEB at the quoted levelised tariff.