JSPL to enter power trading, seek licence from CERC

Jindal Steel and Power, a part of $2.3 billion Jindal Group, today said it would enter the power trading business as the company would have an access to over 1,250 MW electricity by 2008. ‘‘We shall soon apply for power trading licence with the Central Electricity Regulatory Commission (CERC). We have an existing capacity of 205 MW which will go up to 255 MW by end of December this year,’’ Sushil Maroo, Vice President (Finance) of JSPL told PTI.

Jindal Power Limited, in which JSPL would be a majority stake holder, is setting up 1,000 MW (2X500 MW) power plant at Raigarh in Chattisgarh thereby giving an access to JSPL to 1,255 MW of electricity by 2008.