India state seeks joint venture partner for green site

State-owned hydro developer Uttaranchal Jal Vidyut Nigam Ltd. (UJVN) invites expressions of interest from potential joint venture partners to develop a “large green hydropower project” in Uttaranchal State. Responses are due May 5.

UJVN operates more than 31 power stations totaling 1,127 MW and is developing 14 new large projects of capacities up to 480 MW. Its latest solicitation calls for a joint venture partner to execute an unidentified large “green” hydropower site.

It said the joint venture would include a minimum of 51 percent equity participation by UJVN and up to 49 percent by the selected partner. The joint venture company would be required to sell a minimum of 80 percent of its marketable power to distribution licensees within Uttaranchal. The remaining 20 percent could be sold to other customers.

Selection criteria is to include premium on equity, extent of free power to be offered to the government of Uttaranchal, financial strengths, organizational capabilities, reputation, and experience.

Expressions of interest are due to the address below by 4 p.m. May 5. For information, contact Executive Director – Business &Commercial, Uttaranchal Jal Vidyut Nigam Ltd., Ujjwal, GMS Road, Maharani Bagh, Dehradun 248006 India; (91) 135-2761944; Fax: (91) 135-2762245; E-mail: vs@uttaranchaljalvidyut.com; Internet: www.uttaranchaljalvidyut.com.

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