Indiabulls Power wins power plant bid in central India

Indiabulls Power Services Ltd, a unit of Indiabullls Real Estate, has won a bid to build a 1,600 mega watt power plant along with a coal mine in central India, a Indiabulls group spokesman said on Tuesday.

The power plant, situated in Chhattisgarh state, will sell 65 percent of the power to the government at 81 paise per unit and the rest to private users, Gagan Banga, spokesman, Indiabulls group said.

He said the company plans to sell 35 percent of the power at 4 rupees a unit and the overall sale price of power from the plant would be 2 rupees a unit. Banga said the coal mine has reserves of 350 million tonnes, which will be used to generate power.


Source : The Economic Times