Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) and Neyveli Lignite Corporation Ltd (NLC) today set up a joint venture for a 2,000 MW thermal power plant at Ghatampur in Kanpur.
NLC will hold majority stake in the Rs 11,128 crore project.
The agreement was signed between UPRVUNL Managing Director Dheeraj Sahu and CMD of NLC B Sunder Mohan in the presence of Principal Secretary (energy) and Industrial Development Commissioner Anil Kumar Gupta.
Dheeraj Sahu said the share capital of the Nigam and NLC will be 49:51 and the estimated cost of the project is Rs 11,128 crore.
A proposal in this regard was passed by the state cabinet last month.
The government has permitted the use of 2,500 acre land and 80 cusecs of water required for the implementation of the project.
According to the calculation of the Central Electricity Authority, UP will get 64.39 per cent of the power produced from this plant.
Anil Kumar Gupta said that keeping in view the rising demand for power in UP, the State Government has requested the centre for allocation of 75 per cent of the power generated by the plant.