Sunday, January 6, 2008

Jamnagar Essar Power Project- 10% stake sold

Private equity firm General Atlantic is almost close to buying 10% stake
in Essar Power (EPL) for around $600 million, cashing in on the
increasing power demand, EPL is planning to increase power generation
capacity to 6,500 mw by 2012.

This includes a much hyped 1,200 mw coal-fired project at Jamnagar.