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Friday, Sep 29, 2006

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GMR signs power purchase pact with Orissa Govt

Our Bureau

For selling power from Dhenkanal plant

Hyderabad , Sept. 28

GMR Energy, the holding company for the GMR Group's energy business, has on Thursday signed the Power Purchase Agreement (PPA) with GRIDCO, Government of Orissa, for selling power from the 1000-MW coal-based thermal power plant at Dhenkanal District, Orissa.

The company has earlier signed MoU with the Orissa Government on June 9, 2006.

The company has already identified the land and is in the advanced stage of development of the project, according to a press release here.

The company intends to wheel 75 per cent of the saleable power to the power deficit States in southern India. The remaining 25 per cent at 80 per cent plant load factor shall be supplied to GRIDCO for a period of 25 years. The PPA has been signed to this effect on Thursday in Bhubaneswar.

The plant is scheduled to be commissioned by end of 2010 and second phase by middle of 2011. It will use modern technology and will deliver power at most competitive tariff, the release said.

The other power projects the GMR Group is into are the 200-MW LSHS-fired power plant in Chennai which commenced commercial operation in 1999; the 220-MW naphtha-fired power plant in Mangalore (2001), the 388.5-MW gas-fired power plant in Vemagiri (Andhra Pradesh) which has been recently completed and the 140-MW hydroelectric power plant on the river Alaknanda in Uttaranchal which is under development.

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