The JV Company namely Patratu Vidyut Utpadan Nigam Limited (PVUN Limited) was incorporated on 15.10.2015. It is a joint venture of a subsidiary of NTPC Ltd with shareholding of 74% and Jharkhand Bijli Vitran Nigam Limited (JBVNL) with shareholding of 26%.
The JV Company is formed to install 4000 MW coal based thermal power plant consisting of 5 units of 800 MW each which is to be implemented in two phases (Phase I : 3 x 800 MW and Phase II : 2 x 800 MW) .
Presently the JV Company is pursuing the Phase-I (3 x 800 MW) of Capacity addition. The funding for the project is proposed at Debt / Equity Ratio of 75:25. The equity will be contributed by the JV partners, NTPC and JBVNL. The debt funding has been tied up with Rural Electrification Corporation (REC).
85% of 4000MW power from the project will be allocated to State of Jharkhand. Banhardih captive coal block has been allocated to PVUN for end use. Banhardih Coal Mine has a Reserve of about 956 MT with total area of ~18 sq KM. Ministry of Environment, Forest and Climate Change has given final Environmental Clearance to the project. AAI has issued Civil Aviation Clearance. Jharkhand Urja Utpadan Nigam Ltd has sanctioned 27 cusec water for the thermal project which shall be drawn from Patratu Dam reservoir.