Jharsuguda Ind-Barath power station

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Jharsuguda Ind-Barath power station is an operating power station of at least 350-megawatts (MW) in Sahajbahal, Lakhanpur, Jharsaguda, Odisha, India with multiple units, some of which are not currently operating. It is also known as Sahajbahal, Utkal TPP (Odisha).

Location

Table 1: Project-level location details

Plant name	Location	Coordinates (WGS 84)
Jharsuguda Ind-Barath power station	Sahajbahal, Lakhanpur, Jharsaguda, Odisha, India	21.657942, 83.919513 (exact)

The map below shows the exact location of the power station.

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Unit-level coordinates (WGS 84):

• Phase I Unit 1, Phase I Unit 2, Phase II: 21.657942, 83.919513

Project Details

Table 2: Unit-level details

Unit name	Status	Fuel(s)	Capacity (MW)	Technology	Start year	Retired year
Phase I Unit 1	operating	coal - unknown	350	subcritical	2016	–
Phase I Unit 2	construction	coal - unknown	350	subcritical	2024	–
Phase II	cancelled	coal - unknown	660	supercritical	–	–

Table 3: Unit-level ownership and operator details

Unit name	Owner
Phase I Unit 1	Ind-Barath Energy (Utkal) Ltd [100.0%]
Phase I Unit 2	Ind-Barath Energy (Utkal) Ltd [100.0%]
Phase II	Ind-Barath Energy (Utkal) Ltd [100.0%]

Project-level coal details

• Permit(s): Terms of Reference: 2010-02-10, November 30, 2009 – Environmental Clearance, November 30, 2009 – Environmental Clearance; New Terms of Reference: 2023-11

Phase I: 700 MW

Phase I of the plant consisted of two 350 MW units. An environmental impact assessment of the project was completed in January 2009.

In 2011, Ind-Barath filed a draft prospectus to raise more than $200 million via an initial public offering (IPO). The IPO attempt failed "due to volatile market conditions."

In March, UK-based private equity firm 3i Group said that its India infrastructure fund was investing about $45 million for a minority share of Ind-Barath Energy (Utkal) Ltd.

In August 2011, a press report stated that the Ind-Barath company was seeking to raise Rs 1,000 crore through private equity, after shelving its IPO.

In December 2011, Reuters reported that Ind-Barath was in talks to raise about $150 million from TPG Capital and Apollo Global Management.

According to the Central Electricity Authority (September 2012), the project was under construction with the first unit expected to be commissioned in February 2013 and the second unit expected to be commissioned in May 2013.

On its website, Ind-Barath stated it planned to commission the units by August 2014, later pushed to 2015.

Unit 1 was synchronized in June 2015. It was planned for commercial operation in July 2015, and unit 2 in October 2015. As of late 2015, the Ministry of Energy reported that full load for the plant was expected by the end of the year.

In December 2015, the company applied for extension of validity of Environment Clearance for the plant. In its application, the company said the first unit was ready and planned for commercial operation in January 2016. The Union Environment and Forest Ministry returned the application due to shortcomings in the application. The extension was then granted in March 2016.

2016: Unit 1 commissioned

Unit 1 was commissioned in February 2016. Unit 2 was planned for August 2016.

Unit 2 delayed

However, in July 2016, due to slow progress, completion was expected in March 2017. As of March 2017, commissioning was pushed back to November 2017 due to "Mainly financial constraints due to non disbursement of funds by financer." In November 2017, commissioning was pushed back to 2018. As of August 2018, the Ministry of Power listed unit 2 as "stressed" and offered no date for its completion.

The company was admitted to the Hyderabad bench of the National Company Law Tribunal (NCLT) under Insolvency & Bankruptcy Code (IBC) in 2018. In 2019, both JSW Energy and Vedanta were each hoping to acquire the insolvent firm. Business Standard reported the following: "IBEUL is almost entirely owned by Australia-based asset manager Macquarie Group which has over 99 percent stake in the company. Paradoxically, it was Macquarie which dragged IBEUL into NCLT in June 2018 owing to a delay in commissioning of the project. In 2015, Macquarie had lent Rs 750 crore to IBEUL against convertible bonds. Two years later, Macquarie is believed to have converted the debt instrument into equity, thus acquiring a majority ownership. IBEUL's promoters had contested Macquarie's petition in NCLT, arguing that the investor being a majority shareholder was not eligible to file for insolvency proceedings."

In 2021, government documents only listed the following about the project (unit 2): "Admitted to [National Company Law Tribunal] on 29.08.2018."

In the June 2023 Broad Status, it was reported that the NCLT resolution plan had been completed and Unit 2 was expected to be revived by FY 2025-2026.

According to the December 2023 Broad Status, Unit 2 was expected to be commissioned by June 2024.

Project revival: JSW Energy Acquisition

The November 2022 Broad Status Report noted that the project was going to be revived.

In fact, in December 2022, JSW Energy said it had completed the acquisition of the 700 MW Ind-Barath Energy (Utkal) plant for Rs 1,047.60 crore through insolvency proceedings. The company would now hold 95% shares of Ind-Barath Energy (Utkal) Ltd and the secured financial creditors collectively would hold the balance 5%, as per the terms of the resolution plan. Consequent to this transaction, Ind-Barath Energy (Utkal) Ltd became a subsidiary of JSW Energy. Earlier, the company had intimated on July 26, 2022, that the NCLT Hyderabad had, vide order dated July 25, 2022, (NCLT Approval Order) approved the company's resolution plan submitted on October 3, 2019.

That month, the JSW Energy website noted "Unit-I had been commissioned in 2016 but is non-operational since then due to financial stress at Ind-Barath while Unit-II is yet to be commissioned," but that the Project was expected to be completely operational within the next 24 months.

2023 permitting process

In May 2023, M/s Ind-Barath Energy (Utkal) Ltd (IBEUL) (subsidiary of JSW Energy Ltd.) was seeking fresh Terms of Reference for expanding the plant from "1x350 MW to 2X350 MW."

In June 2023, Ind-Barath Energy's proposal for a fresh ToR had been accepted and referred to the Expert Appraisal Committee (EAC).

The submission summarized the following: "IBEUL had planned to install a 2X350 MW Coal based thermal power plant at Village- Sahajbahal, PO: Charpali- Barpali, Via: Bandhbahal, Tehsil: Lakhanpur, Jharsuguda, Odisha in line with MoU with govt. of Odisha. Prior Environmental clearance was taken from MoEF&CC vide F.No. J-13012/31/2008-IA. II (T) dated 30th Nov 2009. However, out of total 2x350 MW, power plant of capacity 1X350 MW was already commissioned in year 2016 and was operational as per CTO granted by OSPCB vide CTO no. 8024/IND-I-CON-6430 dated 09.06.2017 valid till 31.03.2018. In between the construction of unit-II was also completed more than 50%. Meanwhile, the unit became non-operational due to the financial crisis from 2016 and got admitted into corporate insolvency (CRIP) & Bankruptcy. Subsequently JSW Energy (JSWEL) submitted resolution plan and the same was approved NCLT in 2018." The permitting process appeared to be referencing the original 2 x 350 MW of capacity (Phase I), potentially now as two phases with one unit each, and not additional new capacity.

In July 2023, the proposal for fresh ToR for the expansion to 2 x 350 MW units appeared on the MOEF's agenda. The June 2023 Broad Status report confirmed that the project was again progressing, and that Unit 2 was expected to be revived by FY 2025-2026. As of August 2023, the proposal's application for fresh ToR had been "returned in present form." According to the August 2023 meeting minutes of the Expert Appraisal Committee, the proposed ash pond and greenbelt plantation failed to meet environmental standards.

According to the October/November 2023 meeting minutes of the Expert Appraisal Committee, the committee had recommended the grant of Terms of Reference for the expansion and revival of the power station. According to the Indian government's online portal, Unit 2 would likely begin renewed construction activity in December 2023, and was expected to become operational in January 2025. The Broad Status report from November 2023 noted that the plant is likely to be revived by FY 2023-2024.

Financing for Phase I

In March 2010, Ind-Barath Energy (Utkal) Ltd. entered into a loan agreement with a consortium of lenders. In total, the lenders agreed to provide Rs 23,890.00 million in loans as follows: Andhra Bank (US$15,659,343), Axis Bank (UD$13,626,820), Bank of India (US$15,659,343), Bank of Baroda (US$15,659,343), Corporation Bank (US$12,255,138), Jammu & Kashmir Bank (US$8,170,500), Karnataka Bank (US$8,170,500), Karur Vysya Bank (US$3,949,075), L&T Infrastructure Finance Company Limited (US$9,532,250), Punjab National Bank (US$24,511,500), UCO Bank (US$24,511,500), Union Bank of India (US$15,659,343), United Bank of India (US$8,170,500), and Power Finance Corporation Limited (US$149,795,386).

Phase II: 660 MW

In 2011, Ind-Barath Energy Utkal Ltd. entered into an MoU with the state government for setting up a new 660 MW super critical unit at Sahajbahal near Jharsuguda, at the site of phase I.

As of April 2015, Phase II had yet to receive environmental clearance, and appeared to be deferred or abandoned.

Coal supply

In 2010, the company said it had received a letter of assurance from Mahanadi Coalfields for supply of 1.12 million tonnes per annum of Grade F coal towards a 250 MW power project.

In December 2015, the company said it was planning to source coal from the nearby Belpahar Coalfileds of Coal India subsidiary MCL.

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Additional data

To access additional data, including an interactive map of coal-fired power stations, a downloadable dataset, and summary data, please visit the Global Coal Plant Tracker on the Global Energy Monitor website.