Incorporation
 
 Our promoters (erstwhile JIL, now JAL) and GoHP executed a
 Memorandum
 of Understanding dated November 23, 1991, recording GoHP's
 acceptance
 of our promoters proposal to implement the Power Plant and detailing
 the terms and conditions of its implementation. Subsequently, the
 Agreement for Implementation dated October 1, 1992 was executed
 between
 our promoters and GoHP, whereby our promoters agreed to establish,
 operate and maintain the Power Plant for an initial period of 40
 years
 from the date of commissioning, extendable for a further period of
 20
 years.
 
 The Company was incorporated on December 21, 1994 with the object,
 inter alia, to set up hydro-electric or Thermal power projects and
 for
 the supply of general electric power. The Certificate of
 Commencement
 of Business was granted on January 9, 1995. Our registered office is
 at
 C-16, Lane 1, Sector 1, SDA Housing Colony, New Shimla 171 009. Our
 Head Office is at `JA Annexe' 54, Basant Lok, Vasant Vihar, 
 New Delhi - 110 057.
 
 Pursuant to the Tripartite Agreement dated October 17, 1995 between
 the
 GoHP, our promoters and us, all the assets, liabilities,
 obligations,
 privileges and benefits relating to the Baspa II project were
 transferred and assigned from JAL to the Company on the terms and
 conditions contained therein. JHPL paid a consideration of Rs.608.30
 million to JAL for the transfer of assets of the Power Plant. This
 was
 funded through equity participation by JAL in the Company.
 
 History and         Key Events
 
 Year/Date           Key Events                                       
       
 
 1991                GOI announcement of the policy for opening up of
 
                     the power sector for private sector
 participation
 
 November 3, 1991    Execution of MOD between JAL and GoHP, wherein
 GoHP 
                     accepted the proposal of JAL for setting up the 
                     Baspa Stage II 300 MW hydropower project and 
                     accorded in-principle approval to JAL for 
                     implementing the project
 
 May 1992            Detailed project report submitted by JAL to GoHP
 
                     for the project after carrying out a detailed 
                     technoeconomic feasibility study
 
 October 1, 1992     Implementation Agreement executed between GoHP
 and 
                     JAL wherein GoHP granted the right to establish,
 
                     own, operate and maintain the project and 
                     permission to generate and sell power from the
                     project for an initial period of 40 years from
 the 
                     date of commissioning, extendable by another 
                     20 years.
 
 December 17, 1993   Approval by Ministry of Environment and Forest,
 GOI 
                     for the Project
 
 April 24, 1994      Techno-economic clearance granted by CEA for the
 
                     Project
 
 December 21, 1994   Incorporation of JHPL by JAL under the terms of 
                     MOU with GoHP to implement the Project     
 
 March 1995          Approval of the Project by Financial Institutions
 
                     at an estimated project cost of Rs.11,020 million
 
                     and inter-alia signing of PPA as one of the 
                     pre-disbursement conditions                 
 
 October 17, 1995    Execution of a tripartite agreement between JHPL,
 
                     JAL and GoHP consenting the transfer of all
 assets, 
                     liabilities, obligations, privileges and benefits
 
                     arising out of MOU from JAL to JHPL 
 
 June 4, 1997        Signing of PPA with HPSEB pursuant to 
                     Implementation Agreement with GoHP           
 
 June, 1997          Reappraisal of the project by the Financial 
                     Institutions with a revised cost of 
                     Rs.12,630 million.
 
 January 7, 1998     Amendment made in the PPA to include provisions 
                     for escrow mechanism and letter of credit for
                     realization of payment from HPSEB
 
 July 2, 1998        Promulgation of The Electricity Regulatory 
                     Commissions Act                     
 
 January 21, 1999    Submission of financial package of 
                     Rs.13,650 million by JHPL to HPSEB and CEA
 pursuant 
                     to the terms of techno economic clearance
 
 January 25, 1999    Execution of agreement with Siemens AG
 Consortium, 
                     Germany and Alstom T & D, France for import of
                     electromechanical equipment and GIS/GIB 
                     respectively                      
 
 February 2000       Reappraisal of project cost by FIs at 
                     Rs.13,450 million.
 
 July 31, 2000       Occurrence of flash floods in river Sutlej 
                     disrupting communication and transportation links
 
                     to the project site, resulting into delay in the
 
                     implementation of the project by more than a
 year
 
 March 22, 2002      Reappraisal of the Project consequent to the 
                     flash floods at a cost of Rs. 16,120 million
 
 May 14, 2001        Submission of revised financial package of 
                     Rs. 16,201.50 million by JHPL to HPSEB and CEA
                     consequent to increase in the cost on account of
 
                     the flash floods                     
 
 December 4, 2002    GoHP/HPSEB in-principle approval for project cost
 
                     at Rs.15,500 million or actual whichever is less
 
 February 28, 2003   Execution of Supplementary Agreement to PPA
 between 
                     JHPL and HPSEB in regard to payment of dues (as
 per 
                     entitlement under the PPA) based on actual 
                     realization for the sale of power to HPSEB
 
 June 8, 2003        Commencement of commercial production of the 
                     Power Plant (as notified by HPSEB)       
 
 September 6, 2003   Order issued by HPERC declaring the Supplementary
 
                     Agreement to PPA void ab initio, non est or
                     inoperative: (a) directing HPSEB and JHPL to 
                     restructure the debts to reduce the interest
 costs 
                     and to file the financial package after the 
                     approval of CEA (b) directing HPSEB to continue
 to 
                     pay to JHPL the revenue realised from sale of 
                     energy pending determination of tariff           
    
 
 December 11, 2003   Meeting of lenders agreeing in-principle for 
                     restructuring the debt with re-aligning the 
                     interest rate at 10.50% p.a. and re-fixation of 
                     repayment schedule                               
         
 
 
 2005
 
 -  The public offer for buying stake in Jaiprakash Hydro Power Ltd,
 promoted by Delhi-based Jaiprakash Associates, was oversubscribed
 within minutes after the offer opened on March 22, 2005. At the end
 of the day, the offer was subscribed almost two times. The public
 offer is a first by any private hydro-power company and aims to raise
 Rs 576 crore to fund a 1,000 mega watt project in Himachal Pradesh.
 The company is offering 18-crore equity shares or 36.7 per cent stake
 in Jaiprakash Hydro-Power Ltd at between Rs 27 and Rs 32 each. The
 final price will be determined on the basis of bids received from
 investors.
 
 - Jaiprakash Hydro-Power stock fell below initial offer price on the
 first day of trading. The stock began trading on the Mumbai stock
 exchange at Rs 33.45 against the issue price of Rs 32. But, it closed
 weak at Rs 31.85 soon after.
 
 2006
 
 -Jaiprakash Hydro enters into MoU with Power Grid Corporation of
 India
 
 2007
 
 - Jaiprakash Hydro Power Ltd has appointed Shri Rajiv Ranjan Bhardwaj
 as additional Director on the Board of the Company.
 
 2008
 
 -Jaiprakash Hydro Power Ltd has appointed Shri. Suresh Chandra as
 Whole-time Director of the Company w.e.f. January 08, 2008.
 
 -Jaiprakash Hydro Power Ltd has appointed Shri. S S Gupta as
 Non-Executive Independent Director w.e.f. July 26, 2008.