Jhabua Power Seoni power station
Jhabua power station is a 600-megawatt coal-fired power station in Madhya Pradesh, India.
The power station is sponsored by Jhabua Power of Avantha Power and Infrastructure. In July 2015, it was reported that Avantha was burdened with debt and looking to sell assets to raise cash. The private-equity arm of the Industrial Credit and Investment Corporation of India Bank, along with Tata Power, were in advanced talks to acquire phase I (600 MW) and phase II (600 MW) of Avantha's Seoni project.
However, talks for a third party to acquire Avantha's debt fell through. In November 2018, Avantha offered to pay Rs 24.30 billion to lenders to escape insolvency proceedings for its Seoni plant. The plant is being put up for sale. The plant is one of the country's 34 stressed, non-performing power assets.
In 2012 it was reported that construction of unit 1 was facing delays due to opposition from local residents "right from the beginning." The project had resistance from farmers over land acquisition, who have alleged inadequate compensation and high handedness by the plant authorities, leading to protests.
According to the EIA for phase II in May 2013, Unit 1 was still under construction.
Unit 1 was commissioned in March 2016.
Financing for Phase I
In January 2010, a financing agreement for Phase I was closed. Axis Bank, Bank of India, State Bank of India, Bank of India, UCO Bank, Life Insurance Corp of India, Corporation Bank, Punjab National Bank, United Bank of India, and Oriental Bank of Commerce agreed to provide US$466.5 million in loans.
Phase 2 of the project is a 600 MW supercritical unit. The sponsor was soliciting bids for this phase in February 2012.
As of May 2020, there is no estimated date for completion of phase II, and it is not listed as under construction. It is likely cancelled due to the sponsor's financial problems.
In January 2020, NTPC outbid the Adani Group for Avantha Group’s 600 MW Jhabua plant, with a Rs 1,900-crore offer. Avantha Group owes more than Rs 5,000 crore to lenders, and is undergoing bankruptcy proceedings. Avantha Group could recover 38% of their loans if they accept the NTPC offer.
Sponsor: Jhabua Power
Parent company: Avantha Power and Infrastructure
Location: Barela and Gorakhpur villages, about 10 km north-northwest of Ghansore in the Seoni district of Madhya Pradesh, India
Coordinates: 22.7354787, 79.9123406 (exact)
- Phase I: Operating
- Phase II: Cancelled
Capacity and type of technology:
Start year: 2016 (Unit 1)
Estimated annual CO2:
Source of financing: phase I: US$466.5 million in debt from Axis Bank, Bank of India, State Bank of India, Bank of India, UCO Bank, Life Insurance Corp of India, Corporation Bank, Punjab National Bank, United Bank of India, and Oriental Bank of Commerce
Permits and applications:
- Phase II: Terms of Reference, India MoEF, Dec 8, 2010
- Phase II: Environmental Impact Assessment, May 30, 2013
- Phase II: Environmental clearance, India MoEF, Aug 21, 2014
- Phase II: Environmental clearance extension, India MoEF, Feb 15, 2016
Articles and resources
- "22.735340 79.912491," Wikimapia, accessed November 2013
- Jhabua Power Limited, "Notice inviting bids", Avanthi Power and Infrastructure website, accessed November 2011.
- "ICICI fund said to be in talks to acquire Avantha Power unit," Live Mint, July 14, 2015
- "Avantha Holdings offers Rs 24.3 billion to save Jhabua power plant," BS, Nov 9, 2018
- "Stressed /Non-performing Assets in Electricity Sector," India Ministry of Power report page 15, March 2018
- Monthly Report on Broad Status of Thermal Power Projects in the Country, Central Electricity Authority, September 2012
- "Jhahuba Power Limited: Recent Activities," Avantha Power & Infrastructure, accessed November 2013
- "Fresh trouble at Jhabua Power Plant," TNN, Sep 27, 2012.
- Environmental Impact Assessment, May 30, 2013
- "Revised Cods for coal based thermal power plants as on 23.03.2015," India Ministry of Power, March 23, 2015
- "Supply of coal to Power Plants," India Ministry of Power, July 23, 2015
- "Monthly Report on Broad Status of Thermal Power Projects in the Country," Government of India Ministry of Power, March 2016
- "Jhabua Power signed | News | IJGlobal". ijglobal.com. Retrieved 2020-10-19.
- Environmental clearance, India MoEF, Aug 21, 2014
- Environmental clearance extension, India MoEF, Feb 15, 2016
- "Monthly Report on Broad Status of Thermal Power Projects in the Country," Government of India Ministry of Power, May 2020
- Singh, Sarita C. (2020-01-07). "NTPC outbids Adani for Avantha's MP plant". The Economic Times. Retrieved 2020-01-11.
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