JP Power Ventures to restart Vishnuprayag plant; stock rallies 10%

NEW DELHI: Jaiprakash Power Ventures Ltd (JVPL) rallied as much as 10 per cent in trade on Friday after ET Now reported that all the major repair work at Vishnuprayag is done and the plant should restart shortly in next 48 hours.

Management of JVPL confirmed to ET Now that the plant is ready to be commissioned shortly.

Last year in the month of June, JPVL said that because of heavy rains in Chamoli district of Uttarakhand, where its 400-MW Vishnuprayag hydropower plant was located, excessive silt, boulders and other materials in the Alakananda river has led to shutdown of the barrage operations and power generation.

Manoj Gaur, chairman, Jaypee Group in the month of March indicated that the Vishnu Prayag project, which suffered during the Uttrakhand floods, will start in three weeks from now. So with all this, JP Power venture would bounce back in terms of profitability and with this deal all the requirement of equity is met, he added.