Operations:

The project has been commissioned w.e.f. 11^th June 2003.The details of energy generated and sold to HPSEB upto 31^st December 2003 are as under:

                                                                                    Units in Millions

                        Energy Generated                                 1015.30

                        12% Free Power                                    121.83

                        Net Energy Sold                                     893.47

HPSED has paid an aggregate amount of Rs. 184.97 crores to JHPL against energy sold upto 31^st December 2003 and JHPL has since utilised an amount of Rs. 172.89 crores to meet expenditure towards payment of dues to Lenders, O&M Expenditure, Insurance Premium, Payment to SJVNL for inter connection facility, etc. The balance amount of Rs. 12.08 crores is lying in Trust & Retention Account with ICICI Bank.  

Debt Restructuring:

Keeping in view that the project risks i.e. Construction, Geological, Hydrological, Environment etc. have been mitigated and the payment of energy is being made by HPSEB on time on regular basis, the company has requested the existing Lenders to reduce the interest on Rupee Term Loans to current interest rate level i.e. 10.5% p.a. and also to increase the moratorium period to two years. The tariff for the first 10 years at present rate of interest and if interest is reduced to 10.5% p.a. would be as under:

Return on Equity:

·        The return on equity  is expected to be approx. 20 percent per annum depending upon hydrology, efficiency of the works and other related matters.