JSL signs power purchase agreement with GRIDCO

JSL Stainless entered into a power purchase agreement with GRIDCO for its 1,320 MW coal-fired plant at Luni, Orissa.
GRIDCO Ltd is the nominated agency to act on behalf of the government of Orissa.

JSL Stainless intends to set up the thermal power plant through a Special Purpose Vehicle called, JSL Energy Ltd, according to the Economic Times.

The company had in June signed a MoU with the Orissa government to set up the plant at an investment of US$1.62 billion.