Utkal is building a 700MW, two units of 350MW each, coal fired power plant based in the state of Orissa in India.
3i Asia managing director Anil Ahuja said Utkal is well positioned to take advantage of the demand for power in India which is growing strongly. This investment allows us to partner with IBPIL which is a power generation company with an established track record of delivery.
Ind Barath Group chairman K Raghu said they regard 3i as a strong partner which understands the local infrastructure space and offers them a wide global network of contacts and experience.
"We will work closely with 3i towards building out our business strategy and delivering our plans for improving India’s infrastructure," Raghu said.
IBPIL is an established power generation company with eight operational power projects, representing 290.6 MW, five power projects under implementation (representing 1,728.0 MW), and three planned power projects.
