NHPC has inked an MoU with Bihar State Power Generation Company to implement a thermal power project at Pirpainti, in Bhagalpur district of the state.
As per the MoU, NHPC and Bihar State Power Generation Company will develop the project through a JV named 'Pirpainti Bijlee Company'. In the JV, NHPC will hold 74 per cent of equity shares and the remaining 26 per cent will be held by Bihar State Power Generation Company.
The power project, with 1,320 MW capacity, will be set up at Pirpainti. It will be executed in two phases and each phase will have 660 MW capacity.
Of the total power generated from the project, 85 per cent of the electricity will be absorbed by the state power distribution companies as per the power purchase agreement (PPA).