Sunday, June 7, 2009

Dabhol project : news update

The beleagured Ratnagiri power project, formerly Dabhol Power Project, will achieve the full load of 1,850 mw by March next year from the present level of 900 mw. The project is expected to generate well over 13,000 million units annually once it achieves full load.

The Ratnagiri Gas and power Pvt Ltd (RGPPL) is also in the midst of signing contractual service agreement and rehabilitation agreement with GE for maintenance and rehabilitation of machines. GE, which was dillydallying over entering into such an agreement, has finally given its consent and this also resulted in the renewal of insurance by the national insurance companies.

NTPC chairman and managing director and RGPPL managing director AK Ahuja told reporters on Friday that the gas supply agreement with Reliance Industries gas from KG D6 field, which was approved by RGPPL board on May 8, is expected to be signed shortly. Financial restructuring under the aegis of the centre is already agreed by all stakeholders in March 2009 though it is subject to the approval of the Central Electricity Regulatory Commission. RGPPL has also approached the CERC for a rise in Dabhol project tariff to Rs 4.44 and the order is awaited for the same.

Ahuja said as the major issues have been resolved RGPPL will be in a position to achieve full load of 1,850 mw by March next year.

Moreover, Sharma informed that NTPC, which has an installed capacity of 30,144 mw, will achieve its capacity addition target of 22,430 mw by end of the 11th Five Year Plan. The installed capacity will rise to 50,000 mw by 2011-12 and the company plans to increase it 75,000 mw by 2016-17. NTPC aims to add 3,300 mw in the current fiscal itself.

Of the 22,430 mw, 2,740 mw capacity has already been commissioned, projects with capacity of 17,930 mw are under construction and 1,760 mw under bidding stage.

Sharma informed that against its requirement of Rs 17,700 crore, NTPC has already organised Rs 22,000 crore from the public sector banks, the state-run Power finance Corporation and the Life Insurance Corporation.

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