BHEL and the Karnataka State Electricity Board (KSEB) are likely to form a JV company for setting up a 1,600 MW (2x800) coal based power plant in Karnataka.
In the Rs 9,000-crore project, KSEB is to hold 75 per cent stake and the remaining 25 per cent is to be with BHEL. The JV agreement will have a clause giving an exit option to BHEL once the project gets commissioned.
BHEL is likely to be the equipment supplier for the JV company which will execute the power plant project. It is joining the JV company with an intention of securing the equipment order estimated to be Rs 6,000 crore.
The proposed power plant is likely to have a debt-equity ratio of 80:20. BHEL is likely to invest Rs 500 crore as its equity contribution.
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