| US-based private equity player Clear Trade, which is floating a $12 billion fund along with leading US private equity firms to invest in Indian power and infrastructure projects, is in talks with a leading power producer in China to float a consortium to bid for the ultra mega power projects (UMPP) in India. |
| “We are in discussions with a leading Chinese company to form a technical consortium to bid for the UMPPs and hope to finalise it within a few weeks,” said Deepak Kavadia, managing director, Clear Trade. |
| Some of the US funds associated with Clear Trade had made over $500 million investments in the Chinese power major, he added. |
| The Indian government is planning to set up 9 UMPPs in the country with about 4,000 mw capacity each to add at least 78,000 mw of additional power by 2012. |
| Sasan and Krishnapatinam UMPPs have been awarded to Reliance Power and Mundra to Tata Power. |
| A consortium of the Hyderabad-based Lanco Infratech and Globeleque of Singapore had won the bid for Sasan, but was disqualified later to award the project to Reliance Power. |
| A joint venture between Singapore–based SembCorp and Indiabulls is in the race for the 4,000 mw UMPP at Tilaiya, Jharkhand. |
| Clear Trade will also finalise investments to the tune of $150 million in two 1,000 mw power projects and another $50 million in two wind power and one biomass power project soon, said Deepak Kavadia. |
| US-based Cornell Capital, Axis Bank-promoted Axis Private Equity, Morgan Stanley and other US funds, including one of the largest PE players in the hospitality sector, are participating in the $12 billion fund titled Clear Investments Power and Infrastructure Fund. |
| Clear Trade is also in talks with some of the leading European pension funds to join the fund. |
Source: Business Standard