Indian Cos. Ink 25-Year Power Supply Agreement

Law360, New York (May 10, 2012, 2:13 PM EDT) -- An Essar Energy PLC unit said Thursday it inked a 25-year agreement to provide 240 megawatts of contracted capacity to Noida Power Company Ltd. from a new coal-fired plant in India's Jharkhand state.

The power purchase agreement, reached through a competitive bidding process, covers nearly half of the Tori II power station's total 600-megawatt capacity, Essar said. The deal takes effect in the first part of 2014, when the plant is expected to go operational.

Noida, an Indian power company that serves customers in the Delhi...
To view the full article, register now.