chapter  31
8 Pages

Unleashing Africa’s Infrastructure Potential

ByRavi Suri, Simon Lassman, Standard Chartered

China Light Power Power India Private Ltd (CLP PIPL) incorporated an SPV by the name of Jhajjar Power Ltd (JPL) to implement the project. JPL appointed IDBI as the sole arranger for tying up the entire debt requirement for the project. CLP PIPL was awarded the project, as it was the lowest bidder with a levellized tariff of Rs2.99/unit. A Power Purchase Agreement valid for 25 years has already been executed between JPL and Uttar Haryana Bijli Vitharan Nigam (UHBVNL) and Dakshin Haryana Bijli Vitharan Nigam (DHBVNL), the State Distribution Companies of the Haryana Government. The coal would be sourced from North Karanpura coalfield of Central Coalfields Limited (CCL), subsidiary of Coal India Limited (CIL), located at a distance of about 1,000km from the plant site. The consortium consists of a total of 15 lenders comprising 10 banks and five financial institutions. The tenor of loan is for a period of 15 years with an initial moratorium of four years.