Power deal Reliance Industries appeared set to buy a 50 per cent stake in Consolidated Electric Power Asia (CEPA) for about $500 million. CEPA is promoting the 3960 MW Hirma power project in Orissa, one of the largest independent power projects (IPPs) in the world. CEPA is part of Southern Co. of the US. The Hirma project is expected to cost around $5 billion, out of which $1 billion will come as equity and the rest as debt. According to a report in the Economic Times of India, CEPA has been in discussion with the Power Trading Corporation (PTC), the captive customer to whom the project will sell power. PTC, in turn, will transmit power to other state electricity board.