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Overview

China Eximbank contributes $88 million to $288 million syndicated loan for 1320 MW Coal-Fired Jhajjar Power Plant Project (Linked to Record ID#54344)

Commitments (Constant USD, 2023)$113,180,186
Commitment Year•2010Country of Activity•IndiaDirect Recipient Country of Incorporation•IndiaSector•EnergyFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 17, 2010
Last repayment (originally scheduled)
May 14, 2024

Geospatial footprint

Map overview

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This 1320 MW power plant is located in the village of Khanpur, the district of Jhajjar, and the state of Haryana. Its exact locational coordinates are 28°29′21″N 76°21′05″E. More detailed locational information can be found at https://www.openstreetmap.org/way/161478975

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Cofinancing agencies

Private Sector

  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Standard Chartered Bank PLC

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Private Sector

  • CLP India Private Limited

Implementing agencies

Private Sector

  • CLP India Private Limited
  • Shandong Electric Power Construction Corporation III (SEPCO III)

Insurance providers

State-owned companies

  • China Export & Credit Insurance Corporation (Sinosure)

Loan desecription

In 2010, China Eximbank and CDB contribute to USD 288 million syndicated loan for 1320 MW Coal-Fired Jhajjar Power Plant Project, India

Interest type•UnknownMaturity•13.5 years

Narrative

Full Description

Project narrative

On November 17, 2010, China Development Bank (CDB), Export-Import Bank of China (CEXIM), Hong Kong and Shanghai Banking Corporation (HSBC), Standard Chartered Bank, and Bank of Tokyo-Mitsubishi UFJ provided a $288 million syndicated loan to CLP India Private Limited — a subsidiary of CLP Group — for the 1320 MW Coal-Fired Power Plant Project in Jhajjar, Haryana. The loan carries a 13.5-year maturity (final maturity date is May 17, 2024). The interest rate and grace period are unknown. Sinosure provided insurance for the syndicated loan. China Eximbank reportedly contributed $88 million to the loan facility (captured via Record ID#54343) and China Development Bank (CDB) contributed $100 million (captured via Record ID#54344). The loan is refinancing a part of a INR 39 billion loan that CLP India Private Limited contracted in 2009 with Industrial Development Bank of India (IDBI) to develop the 1320 MW Coal-Fired Jhajjar Power Plant. SEPCO III and Shandong Tiejun Engineering Company Limited were the EPC contractors responsible for project implementation. Construction began in January 2009. Stage one of the project involved installing 660 MW capacity and that was commissioned March 2012. Stage two of the project involved installing 660 MW capacity and it was commissioned on July 19, 2012.