Web Exclusive | January 2017
Coal issues dog Essar's Jharkhand project
Essar Power’s Tori project in Jharkhand is stuck for lack of coal, despite a spurt in the fuel’s supplies in the country. “The 1,200 Mw project is almost 50 per cent complete. It would have been completed by now but financial institutions have stopped disbursement of funds,” said KVB Reddy, chief executive officer, Essar Power. Banks check for PPAs and fuel supply before lending to power generation projects. “If the coal blocks had been with us, the plant would have been operational,” Reddy said.