Jaiprakash Hydro-Power Limited (JHPL), a part of the Jaypee Group owns and operates the 300 MW Baspa-II Hydroelectric Project at District Kinnaur in Himachal Pradesh. The erstwhile Jaiprakash Industries Limited (JIL), the promoter company, since merged with Jaypee Cement Limited (JCL) and now known as Jaiprakash Associates Limited (JAL) signed the Memorandum of Understanding (MOU) for Baspa Stage-II project in November 1991 and was granted approval to develop 300 MW Baspa Stage-II Hydroelectric project in private sector on "Build, Own and Operate" basis by the Government of Himachal Pradesh in October 1992. The Baspa-II project - India's Largest Private Sector Hydro-Power Project was fully commisioned on 8th June 2003 at a project cost of Rs 1624.72 crores and has since been generating power.