O. P. Jindal Super Thermal Power Plant
The O. P. Jindal Super Thermal Power Plant, which is also referred to as the Tamnar I Project, is a a 1000 megawatt coal-fired power plant in Raigarh district, Chhattisgarh in India. The power station is owned and operated by Jindal Power, a subsidiary of Jindal Steel & Power.
The first of the plant's four 250 megawatt unit of the plant was commissioned in December 2007 with the plant fully commissioned in September 2008.[1]
Coal supply
The company stated in its December 2009 prospectus that the project sources coal from captive coal mines from which coal is transported through a 6.9 km pipe conveyor belt.[1] The company states that it operates the "Gare Palma IV/2 and IV/3 captive coal mines in Chhattisgarh which currently supply coal to our Tamnar I Project ... These coal mines have geological reserves of approximately 246 million tons, based on information provided by the Ministry of Coal, and have been leased to us for a period of 30 years by the Government of Chhattisgarh, or GoC."[2]
Water supply
The company states that the project "has its own pipeline and a 18 meter high dam at the Kurket river to transport the water to, and store the water at Tamnar I Project."[1]
Markets
The company states that "we currently sell power produced by this project through bilateral power purchase arrangements and power exchanges to state-owned utilities and power distribution and trading companies."[1] However, it also caustioned that as the company sells "a majority of power" from the project "under short-term PPAs" this "creates additional variability in our revenues and exposes our business to risks of market fluctuations in demand and price for power."[2]
Tax benefit
In its 2009 prospectus the company outlined the generaous taxation benefit granted to power companies by the government of India. The company stated that "we are entitled to certain benefits for our operational Tamnar I Project and would be entitled to deduction of 100% of profits derived from the generation, distribution or transmission of power for any 10 consecutive assessment years out of 15 years beginning from the year in which the undertaking generated power or commences transmission or distribution of power before March 31, 2010."[3]
Articles and Resources
Sources
- ↑ 1.0 1.1 1.2 1.3 Jindal Power Limited, "Draft Red Herring Prospectus", Jindal Power, December 2009, page 116. (Pdf)
- ↑ 2.0 2.1 Jindal Power Limited, "Draft Red Herring Prospectus", Jindal Power, December 2009, page 118. (Pdf) Cite error: Invalid
<ref>tag; name "Prosp2" defined multiple times with different content - ↑ Jindal Power Limited, "Draft Red Herring Prospectus", Jindal Power, December 2009, page 33. (Pdf)
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