Reliance Power’s (RPower) wholly owned subsidiary, Jharkhand Integrated Power (JIPL), has terminated the Power Purchase Agreement (PPA) of its 3,960 MW Tilaiya Ultra Mega Power Project (UMPP) in District Hazaribagh, in the State of Jharkhand.
Based on tariff-based bidding managed by Power Finance Corporation (PFC), Reliance Power was awarded the Tilaiya UMPP in February 2009. JIPL, the Special Purpose Vehicle (SPV) for implementing the project, was handed over to Reliance Power by PFC in August 2009. JIPL has signed a Power Purchase Agreement (PPA) with 18 power off-takers in 10 states for 25 years. For fuel security, the project was allocated Kerendari BC captive coal mine block.
Reliance Power is a part of the Reliance Anil Dhirubhai Ambani Group and is established to develop, construct and operate power projects domestically and internationally.
