VISA Power Limited signed a Memorandum of Understanding with the Government of Jharkhand on February 5, 2008 for establishing a 2,500 MW pit-head based thermal power plant. The company has currently applied to Jharkhand Minerals Development Corporation (JMDC) for making a joint venture company to ensure coal availability and supply contractual power to JMDC and rest to other states as Mega Power Company. Owing to the abundant and good quality Indian coal reserves in Jharkhand, the company shall also be able to generate electricity at a low cost from this project.