Bajaj Hindusthan signed a Memorandum of Understanding (MoU) with the government of Uttar Pradesh for the upward revision in power generation capacity of five new coal-based power plants, adjacent to five of the company's sugar plants to 90 megawatt (MW) against 80 MW each aggregating to 450 MW.
Bajaj Hindusthan signed another MoU with the government of Uttar Pradesh for a mega power project of 1980 MW (3 X 660 MW) capacity at Lalitpur in through a consortium.
These ventures are proposed to be undertaken either directly and/or through a special purpose vehicle (SPV) being subsidiary or an affiliate company of Bajaj Hindusthan in, which either the company or the consortium is obligated to hold a minimum of 26 per cent equity.
The cost of projects are estimated to be around Rs 5 crore per MW plus cost of dedicated transmission lines, allied systems and facilities, as may be required.
