Financial Daily from THE HINDU group of publications
Friday, May 12, 2006
Financial Daily from THE HINDU group of publications Friday, May 12, 2006 |
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Industry & Economy
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Power States - Maharashtra MIDC plans four captive power plants in the State Rahul Wadke
Mumbai , May 11
The Maharashtra Industrial Development Corporation (MIDC) is planning to set up four captive power plants in the State and is likely to initiate pre-qualification process. All the four plants, referred to as Group Captive Power Plants (GCPP), would be gas-based and having 100 MW capacity each. The gas would be sourced from the up coming gas grid in the State, an official in the Maharashtra Government said. The plants would be set up in the MIDC industrial estates at Ranjangaon and Hinjewadi in Pune district and Ambernath and Tarapur in Thane district. They would primarily cater to the industrial consumers. About 100 acres of land would be allocated to each of the plants, the official said. At present, Maharashtra faced a 4500 MW load shedding per day. The four projects would be for a minimum period of 20 years from the date of commissioning and solely for the benefit of user industries, who choose to participate in this project and off-take power from this project as a captive source. In April 2006, MIDC had signed its first Memorandum of Understanding (MoU) with the Reliance Energy Ltd for setting up two GCPP in the State. MIDC would lease land to the project developer for a period of 95 years. The project developer will have to create a special purpose vehicle or a project company together with the local industries association for implementing the project. The developer would be responsible for acquiring permits and clearances for the project, which would include clearances from the Maharashtra Electricity Regulatory Commission and central authorities. The developer will have to ensure that the project reaches financial closure and the construction activity commences with six months of signing of the MoU.
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