New Delhi, 4th October 2018: India's leading ratings firm CARE has reaffirmed Stable Outlook credit rating of A- (Single A minus) to Jindal Power Limited, a subsidiary of Jindal Steel and Power Ltd. (JSPL). Jindal Power Limited operates the 3400 MW OP Jindal Super Thermal Power Plant at Ta1ru1ar, Chhattisgarh. The generation facility is the largest single location power plant in the state of Chhattisgarh.
The reaffirmation of the rating comes at the back of experienced promoter group, cost competitiveness of company's power plants and their favorable location leading to competitive variable cost. The ratings also derive comfort from revenue visibility from Medium / Long term PPAs in place for its capacity and demonstrated ability of the company to enter into short-term PP A's and undertake merchant sales at remunerative tariffs.
For further information, please contact:
Gaurav Wahi, Head- Group Communication at +91 88267 49938;
gaurav.wahi@jindalsteel.com
Rajmoni Borah, Corporate Communication at +91 88009 00548;
rajmoni.borah@jindalsteel.com