Financial Daily from THE HINDU group of publications
Friday, Apr 30, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 30, 2004 |
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Industry & Economy
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Power ONGC keen on power generation Our Bureau
New Delhi , April 29 ONGC is keen on entering the power generation sector by setting up power plants close to its gas fields. "We are planning to move further downstream and take up power generation on a commercial basis. But, we are not interested in transmission and distribution of power," Mr Subir Raha, Chairman and Managing Director of ONGC, told newspersons at the MoU signing ceremony of the marginal gas fields. The company is planning to explore the `gas-to-wire' or `gas-to-power' strategy while developing gas fields in future. The plan to set up power plants is aimed at taking advantage of the availability of fuel. However, the decision whether to set up a gas pipeline or a power plant will depend upon the economic viability of the projects. "In some cases, laying a gas pipeline would probably make more sense but we will actively consider possibilities of setting up power stations and selling the power," Mr Raha disclosed. ONGC may even consider the possibility of allowing other power generation companies to develop and operate the plant. The company already has a captive power capacity of over 1,000 MW out of which only 100 MW is fed into the grid. "In future, we will sell the power generated to trading companies like PTC or even to direct consumers through contracts," Mr Raha noted.
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