Jaiprakash Power considers 50 MW solar project at Bina plant

The Board of Directors of Jaiprakash Power Ventures Ltd (JPVL) has reviewed a proposal to develop a 50 MW solar photovoltaic (PV) power plant at its existing 500 MW Jaypee Bina Thermal Power Plant (JBTTP) site in Bina, Madhya Pradesh. The estimated investment for the project is around INR 300 crore.

The company, incorporated in 1994, is part of the Jaypee Group and develops, implements, and operates power projects in India. It is active in thermal and hydro power generation, coal mining, and cement grinding, and is exploring opportunities in renewable energy, including solar power.

Recently, The Hindu Business Line reported that lenders to JPVL are in discussions with leading bidders for its parent company, Jaiprakash Associates Ltd (JAL), which is under corporate insolvency proceedings. The discussions focus on the potential sale of a 25 per cent stake in JPVL. Interested parties reportedly include the Adani Group and other power generation companies, contingent on acquiring JAL under insolvency resolution.