The Abhijeet Group is an Indian power project development company which is currently developing three coal-fired power stations: the 276 megawatt (MW) MIHAN Power Project in Maharashtra, the 1,080 MW Chandwa Power Project in Jharkhand and the 1,320 MW Banka Power Project in Bihar. The three projects have a combined installed capacity of 2,671.6 MW.
On its website the Abhijeet Group states that "we intend to sell the power generated from these projects under a variety of off-take arrangements, including long, medium and short term PPAs to state owned and private distribution companies, private power trading companies and industrial consumers, and on merchant basis. We are part of the Abhijeet Group, which has presence in various sectors. The Abhijeet Group has developed a 25 MW captive power project and a ferro alloys project in West Bengal, a road project in Karnataka and a bridge project in Maharashtra."
Coal Imports from the U.S.
In August 2012, New Jersey company FJS Energy signed a $7 million deal with India's Abhijeet Group to purchase coal from Kentucky and West Virginia. Under the deal, Kentucky coal companies will export about 9 million tons of coal annually for 25 years to India's Abhijeet Group. The first shipment is scheduled to depart from New Orleans Port in Louisiana for India in September 2012.
The terms of the deal that have been released suggest that Booth Energy will supply up to two million tons of coal a year, and the remaining seven million tons or so will come from other producers.
Kentucky representative Keith Hall was instrumental in brokering the deal. Hall's district covers part of coal-rich Pike County, and Hall also owns several coal-related businesses in the area — including coal mines — and sits on the board of FJS Energy, the company that signed the deal with India. Hall was approached for the deal by FJS Energy's Chairman, M P Narayanan, a former chairman of Indian companies Coal India and Neyveli Lignite Co., and vice chairman for the World Mining Congress.
Landmark Building, Level 6,
Wardha Road, Ramdaspeth,
Nagpur-440010, Maharashtra, India
Phone : +91 712 301 1400
Fax : +91 712 301 1405
E-mail : corp.communications AT abhijeet.in, ipo AT abhijeet.in
Resources and articles
Related GEM.wiki articles
- Abhijeet Group, "Project Details", Abhijeet Group website, accessed November 2011.
- Abhijeet Group, "Profile", Abhijeet Group website, accessed November 2011.
- "India to get coal from Kentucky," UPI, Aug. 17, 2012.
- "First shipment of US coal under $7-b export deal to set sail for India next month," The Hindu BusinessLine, Aug. 22, 2012.
- Erica Peterson, "Does the Huge Kentucky-India Coal Deal Make Sense?" WFPL News, August 22, 2012.
- Erica Peterson, "Lawmaker’s Potential Gain From Kentucky-India Coal Deal Raises Concern," UPI, Aug. 16, 2012.