Power Update

Essar Energy to sell power to BSEB

October 2011
Essar Energy plc plans to enter into a power purchase agreement (PPA), with the Bihar State Electricity Board (BSEB), for 300 MW of contracted capacity from its 1,200 MW Tori I power station which is under construction in Jharkhand. BSEB issued Essar Energy's subsidiary Essar Power Jharkhand (EPJL) a Letter of Intent to purchase the power over a 25 year period and it is expected that a binding PPA will be signed within two months. This follows a competitive bidding process. The supply of power under the terms of the PPA will commence from May 2015.

Contact: Essar Energy.
Tel: +44 (0)-207-408 7660.
E-mail: ir@essar.com