Power producer CLP India has signed a $288m financing agreement with a consortium of five foreign banks to fund its 1,320MW Jhajjar coal-fired power project in the Indian state of Haryana.
The consortium comprises China Development Bank Corp, Bank of Tokyo – Mitsubishi UFJ, Export-Import Bank of China, Hong Kong And Shanghai Banking Corporation and Standard Chartered Bank.
Installed with supercritical technology, the 2x660MW power project will be the largest of its kind in CLP’s generation portfolio in Asia Pacific, the company said.
The project’s first unit is scheduled to be commissioned by December 2011 and the second unit by May 2012.
The total investment in the power plant amounts up to approximately $1.3bn.