SKS Power Generation Chhattisgarh

What SKS Power Generation Chhattisgarh does

SKS Power Generation (Chhattisgarh) Limited (SPGCL) is an India-domiciled private thermal power generator that built and operated a coal-based power plant at Binjkote and Darramuda in Raigarh District, Chhattisgarh. The plant is configured as 4X300 MW (1,200 MW total) subcritical units using Indian coal as primary fuel, with Phase I (2X300 MW) completed and Phase II (2X300 MW) reported as under execution. Generation is dispatched into the PGCIL grid via a 400 KV switchyard under a long-term open access arrangement originally executed through a 2010 BPTA and TSA with Power Grid Corporation of India.

SPGCL sits on a 567-acre 99-year leasehold from CSIDC (with 350 additional acres under acquisition) and is sited within 30–100 km of regional coal mines, supported by a dedicated railway siding with RDSO-approved wagon tippler. Raw water is drawn from the Mahanadi River near Saradih via a 43-km intake system. The plant holds Environmental Clearance from MoEF, CTE from CECB, Provisional Mega Power Status with customs/excise duty exemption, PESO explosive licenses, and multiple sectoral NOCs. Primary offtaker is Chhattisgarh State Power Distribution Company Limited (CSPDCL), with power flowing through state DISCOMs to domestic, agricultural, and BPL end consumers.

Operationally the company has been under Corporate Insolvency Resolution Process since April 2022 (initiated by Bank of Baroda, admitted claims ₹2,560 crore). Sarda Energy & Minerals Ltd's ₹1,950 crore resolution plan was approved by NCLT in August 2024 and upheld by the Supreme Court in February 2026. Going forward the asset sits within a strategic acquirer with adjacent coal and ferro-alloy operations, which is expected to support completion of Phase II and integration of captive fuel supply.

Name

SKS Power Generation Chhattisgarh

Legal name

SKS Power Generation (Chhattisgarh) Limited

Website

https://spgcl.com

Company type

Private

Founded year

2008

Operating status

Acquired

Headcount range

11–50 employees

Short description

SKS Power Generation (Chhattisgarh) Limited is a private coal-based thermal power producer operating a 4X300 MW (1,200 MW) plant in Raigarh, Chhattisgarh, selling baseload electricity to state DISCOMs (primary offtake: CSPDCL) via long-term PPAs and PGCIL grid evacuation. Acquired by Sarda Energy & Minerals through a ₹1,950 crore IBC resolution plan upheld in February 2026.

Ownership category

akta.pro rank

Product category

Thermal Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112)

SIC

Electric Services (4911)

akta.pro primary industry

Coal-to-Power with CHP / District Heating (Coal Cogeneration) (EUACAAAN)

akta.pro secondary industry

Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE)

Keywords

• Thermal power generation
• Coal-based power
• Electricity generation utility
• Thermal power plant
• Baseload power generation

Headquarters

HQ city

Raigarh

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Electricity Generation and Sale: Coal-based thermal power generation selling electricity to state distribution companies (DISCOMs) and through open access mechanisms. Revenue derived from long-term power purchase agreements and merchant power sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

SKS Power Generation (Chhattisgarh) Limited operates a coal-based thermal power plant with a planned capacity of 4X300 MW (1200 MW) located at Binjkote and Darramuda in Raigarh District, Chhattisgarh, India. Phase I of 2X300 MW has been completed while Phase II of 2X300 MW is under execution. The company generates electricity using Indian coal as primary fuel and sells power to state power distribution companies through long-term PPAs. By-products include commercial diesel fuel and industrial chemicals.

Product overview

SKS Power Generation (Chhattisgarh) Limited operates a coal-based thermal power plant with a total planned capacity of 4X300 MW (1200 MW) located at Binjkote and Darramuda in Raigarh District, Chhattisgarh. The core offering is coal-based thermal power generation utilizing Indian coal as the primary fuel. Phase I of 2X300 MW has been completed, with Phase II (2X300 MW) under execution. The company also produces by-products including commercial fuel (diesel), industrial chemicals, and quality materials. Supporting infrastructure includes railway connectivity to coal mines and ports, water sourcing from the Mahanadi River, and 400 KV switchyard connections to PGCIL.

Differentiator

Problem solved

Functional benefit

Products and services

• Coal-Based Thermal Power Generation (4X300 MW) Coal-based thermal power generation through 1200 MW (4X300 MW units) capacity plant located at Binjkote and Darramuda in Raigarh District, Chhattisgarh. Generates electricity using Indian coal as main fuel and supplies baseload power to state power distribution companies through Power Purchase Agreements.
• Commercial Fuel (Diesel) Quality diesel fuel produced as a by-product and supplied for construction and power generation industries.
• Industrial Chemicals Chemical products used in different industries, including manufacturing and industrial operations. Produced as by-products of the thermal power generation process and managed under multiple explosive licenses from Petroleum & Explosives Safety Organisation (PESO).

Quantifiable outcome

• All consents and permits available for 1200 MW project
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Power Grid Corporation of India Limited (PGCIL)coreTechnology or Integration · 24 February 2010Company executed Bulk Power Transmission Agreement (BPTA) with PGCIL on February 24, 2010 for long-term open access, followed by signing of Transmission Service Agreement (TSA). The company has received approval for laying 400KV transmission line from both Chhattisgarh government Energy Department and Ministry of Power.
• Chhattisgarh Water Resources Department (CGWRD)coreStrategic or Co-development Partner · 24 February 2010Water agreement executed with Chhattisgarh Water Resources Department for raw water sourcing from Mahanadi River. Water intake system located 43 km from plant at Saradih village.
• Chhattisgarh State Industrial Development Corporation (CSIDC)coreStrategic or Co-development Partner · 7 January 2008Land for the 4X300 MW project (567 acres) acquired through CSIDC under 99-year lease arrangement. Additional 350 acres land under acquisition through CSIDC. MOU signed with Government of Chhattisgarh and CSEB on January 7, 2008.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Tata Power: Large integrated Indian utility with a coal-fired thermal portfolio alongside renewables, transmission, and distribution. Overlaps in thermal IPP business but operates at much greater scale and diversification.
• NTPC Limited: India's largest power generator with extensive coal-fired thermal capacity and long-term PPA structures with DISCOMs. Overlaps in fuel and off-take model but is a state-owned incumbent at vastly larger scale.
• CESC Limited: Integrated power utility with thermal generation, transmission, and licensed distribution in India. Comparable thermal generation operations, though vertically integrated with retail distribution unlike SKS.

Direct peers

• Jindal Power (Jindal Steel & Power): Operates large coal-based thermal generation capacity in central India and was a rival bidder for SKS Power. Direct overlap in fuel, geography, and DISCOM PPA structure.
• JSW Energy: Operates thermal and renewable power assets in India, with significant coal-fired capacity selling under long-term PPAs. Comparable fuel mix, scale, and DISCOM off-take structure.
• Essar Power: Operates captive and merchant coal-fired thermal generation in India selling to state DISCOMs and industrial customers. Closely comparable thermal IPP operating model.
• Adani Power: One of India's largest private-sector coal-fired thermal IPPs, operating multiple large coal-fired plants selling power to state DISCOMs under long-term PPAs. Highly comparable business model, fuel mix, and customer profile.
• Reliance Power: Develops and operates large coal-fired thermal IPPs in India under long-term PPAs with state utilities. Closely comparable independent power producer profile focused on coal baseload.
• GMR Energy: Operates coal-fired and gas-based thermal power projects in India under long-term PPAs. Comparable coal-IPP structure and central/eastern India footprint.
• Torrent Power: Integrated private power company with coal- and gas-based thermal generation selling to DISCOMs; was a rival bidder for SKS Power. Comparable thermal IPP operations and PPA-driven revenue model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sks-power-generation-chhattisgarh-limited

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SKS Power Generation Chhattisgarh