Coal%Currency%% Mapping%Coal%Project%Finances%in%India%

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3 Coal%Currency%% Mapping%Coal%Project%Finances%in%India% Centre%for%Financial%Accountability% % % September%2016

4 % Table%of%Contents%% % GlossaryofTerms 3 Introduction 4 TheLenders 8 TheStates 15 TheProjects 17 Annexure1:Listof125Projectsabove1000MW 20 Annexure2:ListofInternationalFinancialInstitutions 25 Annexure3:ListofNationalPublicSectorCommercialBanks 26 Annexure4:ListofNationalNonOBankingInstitutions 27 Annexure5:ListofNationalPrivateCommercialBanks 28 2

5 Glossary%of%Terms% ADB AsianDevelopmentBank APGENCOOAndhraPradeshPowerGenerationCorporationLimited BNPParibasOBanqueNationaledeParis(UKandFrance) BOB BankofBaroda BOI BankofIndia BOTMOTheBankofTokyoOMitsubishiUFJ(Japan) CECI ChinaExportandCreditInsuranceCorporation ChinaDevBank DevelopmentBankofChina ChinaEXIMBank ExportImportBankofChina(China) HSBCOHongKongandShanghaiBankingCorporation HUDCO HousingandUrbanDevelopmentCorporation ICBC IndustryandCommercialBankofChina IDBI IndustrialDevelopmentBankofIndia IDFC InfrastructureDevelopmentFinanceCompany IFC InternationalFinanceCorporation IIFCL IndiaInfrastructureFinanceCompany IOB IndianOverseasBank J&KBank JammuandKashmirBank JBIC JapanBankofInternationalCoOoperation KfWOKreditanstaltfürWiederaufbau(Germany) KoreanEXIMBank ExportImportBankofKorea L&TFinancialLimited Larson&TurboFinancialLimited LIC LifeInsuranceCorporationofIndia MAHGENCO MaharashtraStatePowerGenerationCompanyLimited MCB formerlymuslimcommercialbank(pakistan) MoEF MinistryofEnvironmentandForests MPPGCL MadhyaPradeshPowerGenerationCompanyLimited NCRPB NationalCapitalRegionPlanningBoard NIB NationalInvestmentBank(Pakistan) NTPC NationalThermalPowerCorporation P&SB Punjab&SindBank PFCOPowerFinanceCorporation PNB PunjabNationalBank PTC PowerTradingCorporation RBS RoyalBankofScotland REC RuralElectrificationCorporation SBBJ StateBankBikanerandJaipur SBH StateBankofHyderabad SBI StateBankofIndia SBI,NY StateBankofIndia,NewYork SBM StateBankofMysore SBS StateBankofSaurashtra SCB StandardCharteredBank(UK) SIDBI SmallIndustriesDevelopmentBankofIndia UCO UnitedCommercialBank USEXIMBank ExportImportBankofUnitedStatesofAmerica 3

6 Introduction% Indiahasthe5 th largestpowergeneratingcapacityintheworld.attheendofjuly2016,outofindia s totalinstalledcapacityof3,04,760mw,thermalpowerplantsaccountedfor69.5%withacapacityof 2,11,855MW 1.Outofthat,coalbasedcapacitywas1,86,293MW.ProjectsownedbyCentralagencies contributed51,390mw,state64,211mwandprivate70,692mw TheshareofinstalledcapacityasofJuly2016isasfollows: Source' MW' %' Thermal 69.52% Coal 1,86, % Gas 24, % Diesel % Nuclear % Hydro 42, % RenewableEnergy 14.52% SmallHydro % Wind 27, % BioPower % Solar % Total' 3,04,760' %' Source:(Central(Electricity(Authority( However,theMinistryofPowerhasprojectiontocolossalexpansionofthiscapacitytoaround7,02,000 MWwhichismorethandoubleofthecurrentlyinstalledcapacity,andmorethanfivetimestheinstalled capacityin2011.areportsaysthattheministryofenvironmentandforest(moef)has accorded environmentalclearancestoalargenumberofcoalandgasobasedpowerplantswhosecapacitytotals 1,92,913MW.Another5,08,907MWareatvariousstagesintheenvironmentalclearancecycle,thatis, theyareeitherawaitingenvironmentalclearance,orhavetermsofreference(tor)granted,orare AwaitingTOR.Itisextremelyrareforathermalpowerplant(TPP)tobedeniedenvironmental clearance.thismeansthattherearearound7,01,820mwofcoalandgasplantswaitingtobebuiltin thecomingyears.coalbasedplantsaccountforanoverwhelming84%oftheseinopipelineprojects. 2 Whiletheseprojectsarebuilt/comingupinaspreadof23states,morethanhalfthecapacity(3,50,000 MW)islocatedinfivestatesOAndhraPradesh,Maharashtra,MadhyaPradesh,Gujarat&TamilNadu. Asinthecaseofanylargeinfrastructureprojects,coalbasedthermalpowerplantsrequireamassive amountofinvestments.withincreasingnumberofprivatecorporationsenteringthesector,alarge 1% 2%Thermal%Power%Plants%On%The%Anvil:%Implications%and%Need%for%Rationalisation%(2011)%by%Shripad%Dharmadhikary%&% Shantanu%Dixit% 4

7 numberoflendersarereachedoutto nationalandinternational;commercialbanksandexportcredit agencies;multilateralbanksandprivateequity.areportinvestigatingcoalfinancehassaidthat commercialbankingsector,operatingattransnationallevel,isverymuchkeenoninvestinginsuch projects,especiallyindevelopingeconomieslikechina,indiaorbrazil. 3 MultilateralagencieslikeWorld Bankdespitemakingpublicannouncementsonnotfinancingcoalprojectsexceptin rare circumstance 4 havebeenfoundcontinuingfinancingcoalprojectsthroughfinancialintermediaries,or financingassociatedfacilities,liketransmissionlinesandportsforimportingcoal. Thereportisanattempttomapthelendersofcoalbasedpowerprojectsbetween2005and2015in India.TheperiodwitnessedasurgeinMoEFgrantingEnvironmentalClearances(EC)orTermsof Reference(ToR)tocoalbasedpowerprojects. Yearwise'status'of'ToR'and'EC'by'MoEF'' 2005H2015' EC ToR 2' 88' 93' 1' 22' 35' 101' 68' 54' 57' 46' 43' 12' 19' 24' 11' 14' 12' 10' 11' 2005' 2006' 2007' 2008' 2009' 2010' 2011' 2012' 2013' 2014' 2015' Justtohaveacomparison,duringthesameperiod,thenumberofhydroOelectricprojectedapprovedby themoefwere74. 3%The%Coal%Test:%Where%Banks%Stand%on%Climate%at%Cop%21%(2015),%collaborated%and%published%by%Rainforest%Action% Network,%BankTrack,%Les%Amis%de%la%Terre%/%Friends%of%the%Earth%France,%and%urgewald% 4% 5

8 HydroHElectric'Projects'Approved' 2005H2015' ' 2006' 2007' 2008' 2009' 2010' 2011' 2012' 2013' 2014' 2015' ThetotalnumberofcoalpowerprojectssecuredECorToRbetween2005and2015were794.Outof whichdetailsof723,withtotalcapacityof686,119mwisavailable.thisreportislookingatprojects withcapacityof1000mworabove 5.Thetotalnumberofsuchprojectsis186. Despiteusingcommercialdatabase,annualreports,balancesheetsandfilingover100Rightto Informationapplications,informationabout61projectswereunavailable.Hencethedataprovidedin thisreportisthatof125projects,withtotalcapacityof2,42,968mw. These125projectsarespreadin15states.Amongthe125,57arepublicsectorprojectsandprivate corporationsrun68. Thefiguresprovidedinthisreportarenotabsolute.Itistheminimumtheseprojectshavesecuredfrom differentfinancialinstitutions.lackoftransparencyandhidingbehindtheveiloffiduciaryrelationship betweenthebankandtheclient(thatisthereasoncitedwhilerejectingalotofrtiapplicationsby banks)preventsanypublicaccessorscrutinyoflending. Thereporthasused2014currencyexchangerateswhileconvertingthemintoIndianRupees. Development'of'powerHsector'in'India:'from'government'to'private' ' TheradicalrestructuringofpowersectorinIndia,witnessedsince1990s,setthegroundfortherapid expansionofpower.untilthen,thestatesandcentralgovernmentundertakingsdominatedpower sectorandtheyaccountedfor58%and32%ofthegenerationcapacityrespectively.privatesector accountedforonly10%.theindianelectricityact1910andtheelectricitysupplyact1948,alongwith StateElectricityBoardsregulatedthesector. Sincetheearly1990s,thepowersectorinIndiahasbeengoingthroughaprocessofreformsand restructuring. Forthepowersector,reformbeganinOctober1991,whenthePowerMinistryofthe GovernmentofIndiabegantopublishaseriesofnotificationsseekingtoencouragetheentryof privatelyownedgeneratingcompaniesintotheelectricitysector.thesegovernmentorders,someof whichwerelaterenactedinparliamenttobecometheelectricitylaws(amendment)actof1991, radicallyrevisedprevailinglegislationbypermittingprivateentitiestoestablish,operateandmaintain generatingpowerplantsofvirtuallyanysizeandtoenterintolongotermpowerpurchaseagreements 5%1000%MW%is%the%criteria%for%the%status%of%mega%power%projects,%set%by%the%Ministry%of%Power,%except%in%the%North%Eastern% states%and%jammu%and%kashmir.% 6

9 withsebs. 6 Inthefirstphaseofreforms,beginningwith1991,thefocusofreformswasonthe inductionofprivateinvestmentandthegovernmentopeneduptheindianpowersectorbyan amendmenttotheelectricity(supply)act,1948;therebypromotingtheentryofindependentpower Producers(IPPs).Anumberofprivateplayersthenexpressedinterestinpowergeneration.In2003,the governmentbroughtoutthenewnationalelectricityacttoencouragetheparticipationofprivate sector,tobringincompetitionandalsotodistancestategovernmentfromtariffdetermination.in addition,theactdelicensedthepowergenerationcompletely(exceptforhydropowerprojectover certainsize),distributioninruralareaandbroughtlicensingregimefordistributioninurbanarea.after theamendmentofthesaidact,privateplayershavebeenveryactiveinpowersectorandfullytaking advantageoftheactforrapidexpansion. 6%The%Politics%of%Power%Sector%Reform%in%India%(2001)%Navroz%K.%Dubash%&%Sudhir%Chella%Rajan% 7

10 The%Lenders% ' Thetotallendingfor125projects,whichare1000MWandabove,approvedbetween2005O2015isRs. 6,31,574cr.DetailsofRs.4,82,648crareavailable.Outofthetotalavailabledatainternationalfinancial institutionscontributedrs.51,026cr11%whiletheshareofnationalinstitutions bothcommercial banksandnonobankingfinancialinstitutionsis89%,totalingrs.4,31,622cr.outofthenational institutions,nonobankinginstitutionscontributedrs.2,78,158cr,whilecommercialpublicsectorbanks andprivatebankscontributedrs.1,37,877crandrs.15,587crrespectively. Share'of'IFIs'and'NFIs'in'Coal'Financing'' IFIs 11% NFIs 89% International%Financial%Institutions% ' Outofthe22IFIswhoarefinancing63projects,dataisavailablefor58projects. Mostoftheinvestmentinthesectorhascomefrominternationalfinancialinstitutionslocatedand operatinginasia.chinadevelopmentbank sloansurpassesotherinstitutionstotheeffectthatitsloano amountisthreetimesoverjapanbankforinternationalcooperation.infact,itsamountislittleless thanamountloanedbytherestfourfinancialinstitutionsfromthetopfive.thisisinconfirmationwith theinternationaltrendofmoreandmorechinesefinancialinstitutions,especiallycommercialbanksare investingincoalofiredthermalprojectsacrosstheglobe. 7 Itisalsoimportanttoaddthatdespite presence,investmentdetailsofbankofchinaandindustrialcommercebankofchinaarenotcurrently inthepublicdomain.chinesefinancialinstitutions involvementincoalofiredthermalsectorinindiais animportanttrendtokeepawatchon. 7%The%Coal%Test:%Where%Banks%Stand%On%Climate%At%COP%21%(2015)% 8

11 9 WhileChinaDevelopmentBankmightbethebiggestinvestorsinthesectorbutitisRBSwhichhasmade investmentinmaximumnumberofprojects,numbering9.withitsloanworth,rs cr,itis6 th highestcontributoroffunds.afterrbs,itissbi,nywhichhasloaned8projects,withloanamounting tors cr. Apartfromlending,foreigndirectinvestmentinthesectorisanothertrendoneisnoticing.Forexample, inoneofthelargestforeigndirectinvestments(fdi)inthepowersector,singaporeobasedsembcorp Utilitieshasacquired49percentstakeintheRs.1042OcroreinThermalPowertechCorporationIndia (TPCIL),thespecialpurposevehicle(SPV)forsettingup1320MW(PhaseO1)thermalplanat KrishnapatanaminNelloredistrict,AndhraPradesh. 8 However,FDIisnotinthepurviewofthisreport. ExportCreditAgencies,commonlyknownasECAsandExportImport(ExIm)Banks,arepublicagencies andentitiesthatprovidegovernmentobackedloans,guaranteesandinsurancetocorporationsfrom 8% venture/article ece% ChinaDevBank JBIC USEXIMBank KoreaEXIMBank RBS ADB KFW IFC CECI BNPParibas BOTM BarclaysBank SBI,NY MCB ChinaEXIMBank NIB HSBCLtd SCB HSBC&BNPParibas BankofChina ICBC InternaVonal'Financial'InsVtuVons''Lending'to'Coal' Projects'(incrores)'

12 theirhomecountrythatseektodobusinessoverseasindevelopingcountriesandemergingmarkets. 9 HencelendingfromtheECAscomeswithriders.Forexample,theJapanBankofInternational Cooperation sloantontpcincludedsuchaclause: These%loans%are%intended%to%finance%the%NTPC%to%purchase,%from%Toshiba%JSW%Power%Systems% Private%Limited,%which%is%a%local%subsidiary%of%the%Toshiba%Corporation%(TJPS)%in%India,%Toshiba% Corporation%(Toshiba)%and%Ebara%Corporation%(Ebara),%system%turbine%generators%(produced%by% TJPS%and%partially%by%Toshiba),%and%boiler%feed%water%pumps%(produced%by%Ebara)%in%order%to% construct%supercritical%coaldfired%power%plants%(3x800%mw)%in%the%kudgi%district%of%the%karnataka% state%in%southern%india. 10 % When,EximBankofUSapprovedaloanofUSD917milliontoReliancefortheir3,960MWSasanUltra MegaPowerProject,similarclauseswerealsoinplace.Accordingtotheagreement,Reliancewas requiredtobuyequipmentfromuscompanieslikebucryusandgeneralelectric. 11 National%Financial%Institutions% Intotal,thereare51nationalfinancialinstitutions whichinclude,nonobankinginstitutions,publicand privatecommercialbanks outofwhichdataisavailablefor49.40amongtheminvestuptors.5000cr, inthe125projects,whileonly9investmorethanthat. Investment'PaYern'of'NaVonal'Financial' InsVtuVons' O O O O50000 Above50000 National%NonEBanking%Institutions% ThetotalmoneyinvestedbynationalnonObankingfinancialinstitutionsisRs.2,78,158cr.Outofwhich Rs.1,59,037crisinvestedbyPowerFinanceCorporation(PFC)alone,livinguptothepurposeforwhich itwassetupin1986,theotherkeyfinancieramongthenonobankinginstitutionsisruralelectrification 9% 10% 11%Reliance s%press%release%on%7 th %November,%2010% 10

13 Corporation(REC),providingRs.1,01,381cr.BothPFCandRECtogethershare94%offinancinginthis category. ItisnotablethatPFC sshareforcoalprojectfinancingaloneishigherthanthetotalofallcommercial banks lending bothpublicandprivate. Givingacueaboutwhatishappeninginsidethesetwomajorinstitutions,inMay2016theGovernment ofindiahasconstitutedacommitteetolookintothesharpriseinnonoperformingassets(npas)ofpfc andrec.grossnpasofpfcwere3.15%ofitsloanassetsasonmarch31thisyearagainst1.16%ayear ago.thethreeomembercommitteeiscomprisedofindependentdirectorsofthecompaniesandasenior officialofthepowerministry. 12 NaVonal'NonHBanking'InsVtuVons''Lending'to'Coal' Projects'(incrores)' L&TFinanceLtd SIDBI NCRPB PTC IDFC L&TInfraDevProject HUDCO LIC IIFCL REC PFC National%Public%Sector%Commercial%Banks% 32publicsectorcommercialbanksareinvestingRs.1,37,877crin125coalprojects.Thetop3banks StateBankofIndia,IDBIandPunjabNationalBank invest62%amongthepublicsectorcommercial banks. Allthreeofthesebanksfigureinthetop10publicsectorbanks,withhighnonOperformingassets(NPAs). 12% psus/articleshow/ cms% 11

14 Notonlydotheyindividuallyfinanceprojects,oftentheyformconsortiumofbankstolendprojects. LargebankslikeSBIleadtheconsortium.ForexampleincaseofJindalPowerLimited sprojectin Raigarh,SBIleadsaconsortiumof23bankstolendRs.10,057crtoit. 13 Similarly,SBIalsoleads16banks toinvestrs.7575crtomejaurjanigampvtltd,ajointventureofntpcanduttarpradeshrajyavidyut UtpadanNigamLimited % _1.html% 14% ntpc% 12

15 SBI IDBI PNB BOI UnionBank SBICapitalMarkets BOB IOB UCOBank CentralBank UnitedBankofIndia CanaraBank AllahbadBank AndhraBank IndianBank OrientalBankofCommerce CorporanonBank SyndicateBank SBBJ VijyaBank SBH SBP P&SB BankofMaharashtra StateBankOfTravoncore SBM DenaBank SBOIndore J&KBank SouthIndianBank KarnatakaBank SBS NaVonal'Public'Commercial'Banks''Lending'to' Coal'Projects'(in'crores)'

16 National%Private%Commercial%Banks.% Comparatively,privatecommercialbanksinIndiaaresmallplayersincoalprojectfinancing.ICICIBank hasinvestedrs.12,050crovertheperiodof2005o2015in5projects.thisimpliesicicibank sloano percentageoutoftotalprivatecommercialbanks investmentinthesectoris77%.whilecomparingto othernationalinstitutionstheshareofprivatecommercialbanksissmall,icici sismorethanevery internationalfinancialinstitution sshare,exceptchinadevelopmentbank. NaVonal'Private'Commercial'Banks''Lending'to' Coal'Projects'(incrores)' KotakMahindrabank HDFCBank TMP KarurVysyaBank YesBank FederalBank AxisBank 2018 ICICIBank Despiteinvestingin6projects,AxisBank,whichcomesnextinthelist,ismakingonlyonefifthofICICI s investmentinthesector.infact,otherfourbanks,takentogetherhaveloaned crores.itisan amount,whichbarelysurpassesaxisbank sindividualloanoamount. 14

17 The%States% Asmentionedbefore,the125projectswhosefinancialdetailsareavailablearespreadin15states. Chhattisgarhtopsthetablewith18projectsabove1000MWs,withatotalcapacityof35,720MW. OthertopstatesareAndhraPradesh(14),MadhyaPradesh(13),Maharashtra(12)andUttarPradesh (11). Givingaglimpseaboutthesizeoftheprojects,Gujarathas6projectsabove1000MWtotaling15,380 MW,whileTamilnadehas10projectstototal15,510MW,makinganaveragesizeof2563MWper projectingujarat,whileitis1551mwperprojectintamilnadu. Stateswithmaximumnumberofmegaprojectsarealsothecoalrichstates.Jharkhand,Odisha, Chhattisgarh,WestBengal,MadhyaPradesh,TelanganaandMaharashtraaccountfor99.08%ofthe totalcoalreservesinthecountry. 15 Telanganahas3projects,withacapacityof5600MWapproved sincethestatewasformedin2014.financialdataoftheseprojectswereunavailableandhencenot includedinthismapping. State'Name' Loan'(in'crores)' No.'of'Projects' Total'Capacity' AndhraPradesh 83, ,670 Bihar 27, ,620 Chhattisgarh 89, ,720 Gujarat 43, ,380 Haryana 13, Jharkhand 29, Karnataka 27, ,740 MadhyaPradesh 83, ,850 Maharashtra 48, ,140 Odisha 34, ,970 Punjab 12, Rajasthan 34, TamilNadu 38, ,510 UttarPradesh 44, ,528 WestBengal 24, Total' 6,36,860' 125' 2,42,968' 15%Energy%Statistics%2016,%Government%of%India% 15

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19 The%Projects% Outofthe125projectsmappedinthisreport,furthernarrowinghasbeendonetolookcloselyatsome bigprojects.projectswithcapacityof3000mwandaboveareseparatelylookedinto.thereare17of them.privatecorporationsown9ofthemand8ofthemarepublicsectorprojects. Parent'Company' Project'Name' Total'capacity' (MW)' Project'cost' (crore)' Loans'' (crore)' ReliancePowerLtd. Krishnapatanam ,450 13,125 UMPP APPGCL VedarevuUMPP , NTPC* BarhSTPPExpn , JasInfraPowerLtd. JasInfraTPP , JindalPower O.P.JndalTPP ,500 10,057 KSKPowerLtd. Akaltara ,190 12,279 MahanadiPP NTPC* LaraSuperTPP , TATAPower TATAMundraTPP ,729 15,594 AdaniPowerLtd. MundraKutch 4620 NA 11,018 TPP NTPC* KudgiSTPP , ReliancePowerLtd. SasanUMPP ,000 21,912 NTPC* VindhyachalTPP Expn NTPC GaarwaraSTPP , ChitrangiPowerPvt.Ltd. ChitrangiTPP ,000 15,000 AdaniPower TiroraThermal ,554 12,433 PowerPlant MAHGENCO* ChandrapurTPP NTPC* RihandTPP Total' ' 63,940' 2,29,167' 1,41,232' *(Expansion(projects.(While(the(additional(capacity(makes(it(above(3000(MW,(project(cost(considered(here(is(only(for(the( additional(capacity,(not(for(the(entire(project.( NTPCisasignificantcompanyamongstthesebigprojects.However,oneneedstokeepinmindthat NTPC sexpansioninmosttheseprojectswereoveralongperiodoftime.othergovernment undertakingsincludeapgencoandmahgenco. Totalcapacityofthese9privateownedprojectsare34840MWandthatof8publicsectorprojectsare 29100MW,averaging3871MWand3638MWrespectively. 17

20 BothRelianceandAdanihave3and2projectseach,totaling11,920MWand7920MWrespectively. First%published%in%August%2012,%the%Credit%Suisse%report%lists%10%business%groups%that%have%stressed% assets%and%whose%debt%has%grown%at%a%brisk%pace.%in%an%update%last%year,%based%on%fy15%financial% numbers,%credit%suisse%put%reliance%group s%debt%at%rs.1.25%trillion%(rs.%1,25,000%cr),%making%it%the% group%with%the%highest%outstanding%debt%among%the% % WhenitcomestoAdanigroup,itsdebtstandsatRs.72,000crores. 16%Sanjai,%P.R.%&%Philipose,%Mobis%(2016),% Reliance%Group%says%it%is%not%the%most%indebted%conglomerate,%(Live(Mint,( conglomerate.html,%( 18

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22 Annexure%1% List%of%125%projects%above%1000%MW,%% Approved%between%2005E2015% '' Name'of'the'Project' Parent''Company' Capacity' (MW)' State' Status' Damodarm,Sanjieevaiah AndhraPradeshPower Andhra 1 TPS Devt.CompanyLtd 1600 Pradesh Active 2 Bhavanpadu,TPP EastCoastEnergy (AthenaGroup) 2640 Andhra Pradesh Stalled 3 PynampuramTPP ThermalPowerTech CorpLtd(Sembcorp) 2640 Andhra Pradesh Active Stalled, Reliance seeking exit KrishnapatanamUMPP, 4 CoastalAndhraPower Ltd ReliancePowerLtd 4000 Andhra Pradesh SingareniCollieries Andhra 5 JaipurTPP Com.Ltd 1200 Pradesh Active HindujaNationalPower Andhra 6 VizagTPP Ltd 1040 Pradesh Active Andhra 7 VadarevuUMPP APPGCL 4000 Pradesh Active Andhra 8 NCCTPP NCCPowerLtd 1320 Pradesh Active Andhra 9 KothagudemstageVTPP APGENCO 2520 Pradesh Active Andhra 10 NTTPSVijaywadaTPP APGENCO 2560 Pradesh Active Andhra 11 KakatiyaTPP APGENCO 1100 Pradesh Active Andhra 12 Rayalseema APGENCO 1650 Pradesh Active Andhra 13 SrikakulamTPP APGENCO 2400 Pradesh Active Andhra 14 SimhadriSTPP NTPC 2000 Pradesh Active 15 BarhSTPPExpn NTPC 3300 Bihar Active 16 NabiNagar NTPC 1980 Bihar Active 17 KahalgaonSTPS NTPC 2340 Bihar Active 18 JasInfraTPP JasInfraPowerLtd Bihar Active SipatThermalPower 19 Plant NTPC 2980 Chhattisgarh Active 20 OPJindalTPP Jindalpower 3400 Chhattisgarh Active 20

23 21 PathadiTPS LancoAmarkantak PowerLtd 1980 Chhattisgarh Active 22 DBPowerTPP DBpowerLtd 2400 Chhattisgarh Active 23 AkaltaraMahanadi Powerplant KSKPowerltd 3600 Chhattisgarh Active 24 SinghitaraiTPP AthenaPowerltd 1200 Chhattisgarh Active 25 UchpindaTPP RKMPowergenLtd 1440 Chhattisgarh Active 26 DhanrasTPP DheeruPowergenPvt. Ltd 1050 Chhattisgarh Stalled, approval revoked byngt 27 GMRRaikhedaTPP GMREnergy 1370 Chhattisgarh Active 28 SaloraThermalpower Plant VandanaVidyut 1200 Chhattisgarh Active 29 SalkaTPP IFFCOChhattisgarh PowerLtd 1320 Chhattisgarh Active 30 VisaSTPP Visapowerltd 1200 Chhattisgarh Active, delayed 31 KorbaWestTPP AvanthapowerLtd 2460 Chhattisgarh Active 32 BinjkoteTPP SKSPowerLtd 1200 Chhattisgarh Active, delayed 33 MarwaOtendubhata ThermalPowerProject CSEB 1000 Chhattisgarh Active, delayed 34 KorbaEastTPPStExpn CSEB/NTPC 2600 Chhattisgarh Active 35 LaraSupperTPP NTPC 4000 Chhattisgarh Active 36 JSWTPP JSWEnergyltd Chhattisgarh Active 37 TataMundraTPP TataPower 4000 Gujarat Active 38 UkaiTPPExtn GSECL 1320 Gujarat Active 39 Salaya ESSARPowerGujaratltd Gujarat Active 40 MundraKutchTPP AdaniPowerltd Gujarat Active 41 PipavavTPP VideoconIndustriesltd Gujarat Active, PhaseII delayed 42 SPOTPP ShapoorjiPallonji EnergyGujaratPvtLtd 2640 Gujarat Active 43 MahatmaGandhiTPP CLPPowerltd Haryana Active 44 RajivGandhiTPP HPGCL 1200 Haryana Active 45 IndraGandhiTPP AravaliPowerCompany PvtLtd.(APCPL)/NTPC 2820 Haryana Active 46 ToriTPP EsaarPowerltd Jharkhand Delayed 47 MatrishriUshaJayaswal ThermalPowerPlant AbhijeetPowerltd Jharkhand Stalled 48 KodarmaTPP DVC 1000 Jharkhand Active 49 MaithanRBTPP DVC/TataPower 1050 Jharkhand Active 50 AdhunikPowerTPP AdhunikPowerltd 1080 Jharkhand Active 51 BellaryTPP KPCL 1700 Karnataka Active 52 Yermarus/VadllorTPP KPCL 1600 Karnataka Active 53 KudgiSTPP NTPC 4000 Karnataka Active 21

24 54 UdupiTPP UPCLOLanco 1200 Karnataka Active 55 RaichurTPP KPCL 1720 Karnataka Active 56 TorangalluTPP JSWEnergyltd Karnataka Active 57 SasanUMPP ReliancePowerltd 3960 Madhya Pradesh Active 58 MoserBaerPower AunppurPlant HindustanPower Project 2520 Madhya Pradesh Active 59 NigrieTPP JaypeeGroup 1320 Madhya Pradesh Active 60 MahanTPP EssarPowerltd 1200 Madhya Pradesh Active 61 BinaTPP JaypeeGroup 500 Madhya Pradesh Active 62 SeoniTPP AvanthaPowerltd 1260 Madhya Pradesh Active 63 SatpuraTPP MPPGCL 1330 Madhya Pradesh Active 64 VindhyachalTPPExpn NTPC 4260 Madhya Pradesh Active 65 SanjayGandhiTPP MPPGCL 1340 Madhya Pradesh Active 66 DadaDhuniWaleTPS MPPGCL 1600 Madhya Pradesh Active 67 GadarwaraSTPP NTPC 3200 Madhya Pradesh Active 68 ChitrangiTPP ChitrangiPowerPvtLtd (Reliance) 3960 Madhya Pradesh Active 69 SreeSingajiTPP MPPGCL 2400 Madhya Pradesh Active 70 LancoVidarbhaTPP LancoPowerltd 1360 Maharashtra Active 71 NasikTPP IndiabullsRealtechltd 2700 Maharashtra Active 72 AmravatiTPPPHO2 IndiabullsRealtechltd 2700 Maharashtra Active 73 TiroraThermalpower plant AdaniPower 3300 Maharashtra Active 74 JSWRatnagiriTPP JSWEnergyltd Maharashtra Active 75 MoudaSTPP NTPC 2320 Maharashtra Active 76 KhaperkhedaTPSExpn MSPGCL 1340 Maharashtra Active 77 KoradiTPSExpn MAHGENCO 1980 Maharashtra Active 78 BijoraTPP JinbhuvishPowerGen Pvtltd 1260 Maharashtra Active 79 ChandrapurTPP MAHGENCO 3340 Maharashtra Active 80 AdditionalAmaravati IndustrialAreaTPPPhO1 SophiaPower ltd(indiabulls) 1320 Maharashtra Active 81 SolapurSTPP NTPC 1320 Maharashtra Active 82 IBBanaharpalliTPP OdishaPowerGen.ltd 1740 Odisha Active 83 KamalangaTPP GMRKamalangaEnergy Ltd 1400 Odisha Active 22

25 84 SterliteTPP(Jharsuguda ) SterliteeEnergyLtd (Vedanta) 2400 Odisha Active 85 DerangTPP JindalIndiaThermal PowerLtd 1320 Odisha Active 86 MalibrahmaniTPP MonetIspatLtd(MPCL) 1050 Odisha Active 87 IndBharathTPP IndBharath 700 Odisha Active 88 NSLTPP NCCPowerltd 1320 Odisha Active 89 LancoBabandhTPP LancoPowerltd 2640 Odisha Active 90 KVKNilanchalTPP KVKEnergyltd 1400 Odisha Active 91 RajpuraTPP NabhaPowerLtd(L&T) 1400 Punjab Active 92 TalwandiSahibTPP Sterliet(VedantaGroup) 1980 Punjab Active 93 GoindwalSahibTPP GVKEnergyLtd 1860 Punjab Active 94 KalisindhTPP RRVUNL 1200 Rajasthan Active 95 KawaiTPP AdaniPowerltd Rajasthan Active 96 ChhabraTPSextn RRVUNL 2320 Rajasthan Active 97 RajWestTPP JSWEnergyltd Rajasthan Active 98 SuratgarhTPP RRVUNL 2820 Rajasthan Active 99 SirkhaziTPP NSLPowerltd 1320 TamilNadu Stalled 100 VallurTPP NTPC/TNEB 1500 TamilNadu Active 101 TuticorinTPP NLC/TNEB 2050 TamilNadu Active 102 MetturTPPExt TNEB 1440 TamilNadu Active 103 NorthChennaiExtn TNEB 1830 TamilNadu Active 104 IndBarathTPP IndBharathPowerltd 1320 TamilNadu Active 105 EnnoreTPPSEZ TANGEDCO 1600 TamilNadu Stalled 106 PatelAkurumukutuTPP PatelPowerltd 1050 TamilNadu Active 107 MelamaruthurTPP CoastalEnergen 2400 TamilNadu Active 108 NeyveliNewThemal powerplant NeyveliLigniteCorp ltd(nlc) 1000 TamilNadu Active 109 MejaTPP NTPC/UPRVUNL 1320 Uttar Pradesh Active 110 ObraTPS UPRVUNL 1288 Uttar Pradesh Active 111 AnparaOC LancoPowerltd 1200 Uttar Pradesh Active 112 RosaTPP RosaPowerltd 2620 Uttar Pradesh Active 113 LalitpurTPP BajajGroup 1980 Uttar Pradesh Active 114 BaraThermalPower Plant(PrayagrajTPP) PrayagrajPowerLtd(JP Powerventure) RihandTPP NTPC AnparaOD UPRVUNL Parichha UPRVUNL 1140 FerozGandhiunchahar 118 TPP NTPC 1550 Uttar Pradesh Uttar Pradesh Uttar Pradesh Uttar Pradesh Uttar Pradesh Active Active Active Active Active 23

26 119 NCPProjectStOII DVC 1820 Uttar Pradesh Active 120 MejiaTPS DVC 2340 WestBengal Active 121 RaghunathpurSTPP DVC 2520 WestBengal Active 122 SagardighiTPP WBPDCL 1600 WestBengal Active 123 DurgapurTPP DVC 1000 WestBengal Active 124 BakreshwarTPSOII WBPDCL 1050 WestBengal Active 125 SantaldihTPP WBPDCL 1000 WestBengal Active 24

27 Annexure%2% List%of%International%Financial%Institutions%% Sr.'No.' Total' Loans'' (in' crores)' Total' No.'of' Projects' No.'of' Projects' data' available' Data'Not' Available'' Financial'Institution' 1 InternationalFinanceCorporation AsianDevelopmentBank NordicInvestmentBank BankofTokyoMistubushiUFJLtd MizuhoCorporateBank JapanBankforInternationalCooperation SBI,NY USEXIMBank BNPParibas HSBCLtd KreditanstaltfürWiederaufbau(KfW) ChinaDevelopmentBank BankofChina NA IndustrialCommerceBankofChina NA ChinaEXIMBank StandardCharterdBank ChinaExportandCreditInsuranceCorporation (Sinosure) HSBCLtd&BNPParibas KoreaEXIMBank BarclaysBank RBS '' Total' 51026' 63' 58' 5' 25

28 Annexure 3 List of National Public Sector Commercial Banks Name'of'Institution' Loan'' (in'crores)' No.'of' Projects' 1 SBI IDBI PNB BOI UnionBank SBICapitalMarkets BOB IOB UCOBank CentralBank UnitedBankofIndia CanaraBank AllahbadBank AndhraBank IndianBank OrientalBankofCommerce CorporationBank SyndicateBank SBBJ VijyaBank SBH SBP P&SB BankofMaharashtra StateBankOfTravoncore SBM DenaBank SBOIndore J&KBank SouthIndianBank KarnatakaBank SBS '' Total' ' '' 26

29 Annexure%4% % List%of%National%NonEBanking%Institutions%% Name'of'Institution' Loan'' (in'crores)' No.'of' Projects' 1 PFC REC IIFCL LIC HUDCO L&TInfraDevProject IDFC PTC NCRPB SIDBI L&TFinanceLtd 55 1 Total ' 27

30 Annexure%5% % List%of%National%Private%Commercial%Banks% Name'of'Institution' Loan' (in'crores)' No.'of' Projects' 1 KarurVysyaBank ICICIBank HDFCBank NA 0 4 KotakMahindrabank NA 5 AxisBank TMP FederalBank YesBank ' 28

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