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Our Bureau

Hyderabad , March 8

The AP Genco and Infrastructure Leasing and Financial Services Ltd (IL&FS) on Wednesday signed up for project facilitation services to develop two mega power projects in Andhra Pradesh.

The State has proposed a 2100-MW gas-based combined cycle power project between Hyderabad and Karimnagar and 1600 MW (2X800 MW) supercritical power project at Krishnapatnam in Nellore district (to be ultimately expanded to 4000 MW). The effort is to develop these two projects under the fast track mode. The memorandum was signed in the presence of the Chief Minister, Dr Y.S. Rajasekhara Reddy, and the CEO of IL&FS, Mr D.K Mittal, and the MD AP Genco, Mr Ajay Jain. AP Genco selected IL&FS to leverage latter's experience in developing infrastructure projects. A special purpose vehicle - AP Power Development Company Ltd - has been created to develop these mega power projects on fast track mode. The project development activities would be completed within six to seven months and the zero date for the gas-based project would be July.

According to a statement from the Chief Minister's Office, Dr Reddy later directed the officials to make arrangements to commission the project ahead of the schedule in view of the ever-growing power demand in the State.

The SPV mandate is to take up work on site selection, land acquisition and secure all statutory clearances. These projects would add about 3700 mw to the AP Grid and help overcome the power shortage of the State.

After development of the above two projects, the implementation would be taken up by AP Genco and other Government agencies.

The Chief Minister said Rayalaseema Thermal and Jurala Hydro Projects would add 660 MW during the 2006-07. Besides this capacity addition, another 1,000 MW of power generation is expected in the private gas-based projects subject to availability of gas for them.

More Stories on : Power | Financial Institutions | Andhra Pradesh

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