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MUMBAI: The Maharashtra Government is most likely to sign the power purchase agreement (PPA) with the Ratnagiri Gas and Power Ltd in a couple of weeks' time.

The Government will buy power at Rs 2.30 per unit at 80 per cent plant load factor, said Mr Jayant Kawale, Managing Director, Maharashtra Power Development Company Ltd (MPDCL), while speaking to Business Line on Friday.

The Dabhol power project has been renamed as Ratnagiri Gas and Power Ltd, which will function as a special purpose vehicle.

The 2,184-MW power project would be commissioned in stages between July and December 2006, following settlements reached by the State electricity board's subsidiary, MPDCL, with GE and Bechtel.

All the litigations, claims and awards of the various tribunals have been settled between the State Government and the GE-Bechtel duo.

The MPDCL has already paid Rs 630 crore to GE and Rs 700 crore to Bechtel in lieu of liabilities on behalf on the Indian interests.

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