The Hindu Business Line : OTPC inks pact with BHEL for Tripura power project

New Delhi, Aug. 12 ONGC Tripura Power Co Pvt Ltd (OTPC) has signed a contract with Bharat Heavy Electricals Ltd (BHEL) for setting up 726.6-MW capacity combined cycle gas turbine (CCGT)-based power project in Palatana in Tripura. The contract is valued at around Rs 2,200 crore, a statement issued here said.

The 363.3x 2-MW plant is being developed by OTPC. ONGC has 50 per cent equity stake in OTPC; 26 per cent is held by Infrastructure Leasing & Financial Services Ltd (IL&FS) and 0.5 per cent by the Government of Tripura. The remaining equity of 23.5 per cent will be tied up through the most optimal modes, including IPO.

According to the statement, the generation project, combined with linked transmission project and upstream gas supply project, is slated to bring in investments of around Rs 9,000 crore in the region.

For evacuating power from generators, a trunk transmission line is being developed by another special purpose vehicle (SPV), jointly promoted by the Power Grid Corporation Ltd, OTPC and the north-eastern region (NER) States. Inter-State and intra-State sub-transmission system and the distribution system within NER States shall be developed by the Power Grid Corporation as the Central Transmission Utility.

It is envisaged that the generation plant and the transmission/distribution system in the NER shall be developed synchronizing with the time-lines.

Related Stories:
BHEL-GE consortium gets letter of award from ONGC
ONGC set to open bids for Tripura plant by mid-June

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page