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Thermal power plant attracts investors

MB POWER has announced that the Macquarie SBI Infrastructure Fund (MSIF) and the State Bank Of India (SBI) on behalf of the SBI Macquarie Infrastructure Trust will together invest Rs. 580 crore (approx US$130million) in MBPMPL’s Anuppur Thermal Power Plant.

MBPMPL - a step down subsidiary of Moser Baer Projects Private Limited is developing a 2,520 MW thermal power plant in multiple phases at Anuppur, Madhya Pradesh with an investment of Rs. 13,700 crore (USD$ 3 billion). With the current investment from MSIF and SBI, the first phase of 1,200 MW which is anticipated to cost Rs 6,240 crore is fully funded.


MBPMPL has already tied-up debt of Rs 4680 crore for the first phase of the project in Nov 2009 with SBI and Axis Bank as the lead banks. The 2520 MW Thermal power plant is expected to be commissioned in phases by the end of 2014. The EPC contract for phase 1 of the project has already been awarded to Lanco Infratech Ltd and construction at the site has commenced. This project is strategically located near major coal fields of South Eastern Coalfields Limited and is close to power deficit markets of Maharashtra, Gujarat and Madhya Pradesh.

Elaborating on the investment, Ratul Puri, Director, MBPPL, said “We are very proud to be associated with both SBI and MSIF. MSIF is one of leading infrastructure funds investing in India which primarily focuses on infrastructure development. Their in-depth understanding of the infrastructure sector and long investment cycles make them an ideal partner for our thermal business.”

Lajpat Shrivastav, CEO, Thermal Business, MBPPL said “Since Madhya Pradesh today faces a 17.7% power deficit, our power project will significantly address the state’s requirement of power and will additionally create large employment opportunities and augment the socio-economic development in district Anuppur and in the region.” MSIF is an India focused infrastructure

being established by the SBI Macquarie joint venture, which is expected to be established soon. Varun Bajpai, CEO, SBI Macquarie Infrastructure Management Pvte Ltd, said: “We are very pleased MSIF has secured this investment. Given the significant power deficit in India, we believe the power sector offers considerable opportunities.”

“Moser Baer has a successful business track record and this project is being implemented by an experienced team.”

fund that is managed by a joint venture between Macquarie Capital (Macquarie) and the State Bank of India (SBI). IFC, a member of the World Bank Group, is a minority shareholder in the joint venture management company and a cornerstone investor in MSIF. SBI Macquarie Infrastructure Trust is a domestic fund

Mr Bajpai added that having successfully completed investments in Adhunik Power and Natural Resources, VIOM Networks Limited and other investments, MSIF and SBI (on behalf of the proposed Domestic Fund) have committed over US$600 million in year 2010.

Edelweiss acted as the financial advisor to MBPMPL on the transaction.

SEMI sees solar growth in India

SEMI further reiterated its confidence, commitment and engagement with India’s burgeoning solar/PV industry. SEMI also announced the appointment of Debasish Paul Choudhury as SEMI India’s new President. Choudhury will assume full responsibility for SEMI’s operations in India from January 15, 2011, and will succeed Sathya Prasad who has led SEMI India since its inception and will continue to participate in an advisory role through the transition.

Announcing Choudhury as SEMI India’s new President, Stanley Myers President & CEO of SEMI said, “With a rapidly developing solar PV supply chain, a growing global role in semiconductor development and consumption and a promising future in emerging high growth markets such as high brightness LEDs, Debasish Choudhury will bring valuable industry experience that will be a tremendous asset for Indian industry and SEMI members.”

Accepting his position, Choudhury said, “It is an honour to take on the role of President of SEMI India at a juncture when the Industry is seeing tremendous growth and numerous new entrants. As a leading global industry body in this space, we look forward to playing a key role as an enabler of the Indian solar/PV industry and in its growth story.”

Congratulating India’s solar/PV community on the progress made, Sathya Prasad said, “we are looking forward to an exciting 2011 with much activity and momentum in evidence on the solar/PV front in India. As SEMI enters its third year of operations in India, SEMI India will continue to promote the Indian solar industry and its interests in advancing technical standards, EHS practices, trade shows and industry events, advocacy support and market data & research.”

In his new role, Debasish Choudhury will oversee and expand SEMI India’s programmes, committees, products and services in India, and strengthen relationships with members as well as industry, government, academia and other local associations. Additionally, Choudhury will support SEMI members from across regions interested in SOLARCON India and the PV manufacturing supply chain. Issue I 2011

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