Jaiprakash Power Ventures has resumed operations at 400 MW Vishnuprayag Hydro Electric Project in Uttarakhand on 11 March 2021.
On 8 February 2021, Jaiprakash Power Ventures declared a force majeure event leading to the closure of its power generation at the company's 400 MW (mega-watt) Vishnuprayag Hydro Electric Project (HEP) due to river water gushing into the Tail Race Tunnel of the project due to the unfortunate tragedy in Chamoli district of Uttarakhand.
Disaster struck Uttarakhand's Chamoli district on 7 February 2021 in the form of an avalanche and deluge, after a portion of the Nanda Devi glacier broke off. The sudden flood triggered large-scale devastation in the high mountain areas.
After carrying out extensive cleaning and thorough checking of all elements of the project, the company has resumed operations at Vishnuprayag HEP on Thursday, 11 March 2021.
On a consolidated basis, Jaiprakash Power Ventures reported a net loss of Rs 8.61 crore in Q3 December 2020 as compared to a net loss of Rs 1,816.05 crore in Q3 December 2019. Net sales surged 18.4% to Rs 987.92 crore Q3 FY21 over Q3 FY20.
Shares of Jaiprakash Power Ventures fell 0.35% to Rs 2.82 on BSE. Jaiprakash Power Ventures is engaged in the generation of power, including hydro and thermal; cement grinding; captive coal mining, and transmission of power.
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