Jindal Power, a unit of India s Jindal Steel & Power Ltd, has submitted a 140 billion rupees bid for a coal-based power project in the eastern region, two sources familiar with the development.
Jindal Power has submitted a bid for the distressed KSK Mahanadi project in Chhattisgarh, a coal-based power project that is being eyed by Adani Power and Vedanta Ltd. The 1,800-megawatt power project, built by KSK Energy Ventures, is one of many distressed coal-fired private power stations in insolvency proceedings. Jindal Power s unsolicited bid shows renewed interest in coal-based power plants in India as the country expects its peak demand to cross 260-gigawatts this year.