The Jharkhand State Electricity Board (JSEB), engaged in the generation, transmission and distribution of electricity, is planning to set up 2X660 MW thermal power plant Patratu Village, Ramgarh District in Jharkhand through Public-Private Partnership on Design, Build, Finance, Operate and Transfer basis. The project is estimated to cost Rs. 8,500 crore. Coal for the project will be sourced from the coal block, Banhardih, allocated by Coal Ministry.
JSEB has set up a wholly owned subsidiary, Patratu Energy Limited, for carrying out the bidding process for selection of the developer. Upon selection of the final bidder 100% equity shareholding of PEL will be transferred to the selected bidder. The Bidder who is offering the lowest Tariff will be considered as the lowest bidder for the purpose. PEL plans to complete the award of the project by May 2014.