Navbharat Power which is being set up in Dhenkanal in Orissa is being purchased by Essar Power. The UK listed, Essar Energy has announced the intentions of its subsidiary towards the 2250 MW coal fuelled power plant. EPL will put their money into 76% of the current equity and the rest is expected to be bought as certain project targets are accomplished.

A joint venture between Malaxmi Energy ventures and Nava Bharat Ventures, Navbharat power has been granted all the major clearances and even the coal linkages are in place, with the land acquisition process currently in progress.

The CEO of Essar Energy, Naresh Nayyar has informed that Navbharat Power is an important part of the ongoing power phase II development project of the company.

The company is also planning to develop over 11,000 MW of power capacity by the end of 2014.

The Navbharat power project is at present being executed in two stages, 1050 and 1200 MW. The project is expected to achieve financial closure by the end of the current year.

 Essar Power already have 3 other coal based power plants coming up in Gujarat, Madhya Pradesh and Jharkhand as they aim to expand their capacity to 6000 MW by the 2012.