Tilaiya UMPP transferred to Reliance Power Limited

Mumbai, August 07, 2009: Upon emerging as successful bidder in the tariff based International Competitive Bidding, Reliance Power Limited - a Reliance ADA Group company, today acquired Jharkhand Integrated Power Ltd (JIPL) - the Special Purpose Vehicle Company formed to implement Tilaya UMPP - from Power Finance Corporation Ltd (PFC). The brief highlights are.

• Reliance Power to build Tilaiya 4,000 MW Ultra Mega Power Project
• 4,000 MW UMPP involving a capital outlay of over Rs. 20,000 crore to come up at Tilaiya, Jharkhand based on domestic Coal (pit head)
• Third Ultra Mega Power Project won by Reliance Power after Sasan in Madhya Pradesh and Krishanapatnam in Andhra Pradesh
• Tilaya UMPP will supply power at levelised Tariff of Rs 1.77 per unit
• Project to supply power to Delhi, Uttar Pradesh, Punjab, Haryana, Rajasthan, Madhya Pradesh, Gujarat, Maharashtra, Bihar and Jharkhand

New Delhi, 7th August, 2009: Reliance Power Limited, today formally acquired Jharkhand Integrated Power Limited (JIPL), the SPV formed to implement the 4000 MW Tilaiya UMPP in Jharkhand. The transfer agreements were exchanged between J P Chalasani, Chief Executive Officer of Reliance Power and Satnam Singh, CMD PFC at a function in the capital today.

Speaking on the occasion Mr J P Chalasani, CEO of Reliance Power, said "We are glad to add Tilaya into our portfolio of UMPP's. With the addition of Tilaya UMPP, we would now be developing projects of over 33,000 MW based on coal, gas and hydro, the largest in the private sector".

The 4000 MW Tilaiya Power project will entail an investment of over Rs 20,000 Crore and employ environmental friendly super critical technology. JIPL has entered into Power Purchase Agreement (PPA) with 18 procurers from ten states in Eastern, Western and Northern Regions.

Reliance Power Limited (RPL) secured the rights to implement the Tilaiya Thermal Power Project based on domestic coal through a process of international competitive bidding. The project will supply power to 18 procurers for the state of Jharkhand (1000 MW), Uttar Pradesh (650 MW), Bihar (500 MW), Punjab (450 MW), Gujarat (300 MW), Maharashtra (300 MW), Rajasthan (250 MW), Madhya Pradesh (200 MW), Haryana (200 MW) and Delhi (150 MW).

RPL emerged as the successful bidder in the fiercely contested bids for the Tilaiya Project, with the lowest levelised tariff of Rs 1.77 per unit.

Reliance Power now has total portfolio of projects of capacity over 33000 MW based on coal, gas & hydro..

For further information, please contact:

Nagraj Rao
Mob: +Mobile: 9323342576
nagraj.rao@relianceada.com

Ravi Sodhi
Mob: 09350599987
Ravi.sodhi@relianceada.com

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