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Petronet LNG expects to sell power from its upcoming Kochi plant at a tariff between Rs 6 and Rs 6.5 a unit.
This was disclosed by the management to analysts from Edelweiss, an analyst report of Edelweiss Securities has said. Petronet LNG has not responded to a query by Business Line seeking confirmation.
Petronet LNG’s Kochi LNG terminal is almost ready for commissioning. It is likely to go on stream by December 2012 or January 2013. “The terminal is ready and awaiting the start of phase-1 of GAIL’s Kochi-Bengaluru-Mangalore pipeline,” says the Edelweiss report.
While the LNG imported via the Kochi terminal will feed several user industries such as HOCL and FACT, Petronet LNG itself is putting up three power projects of 350 MW each to provide the demand for gas. The project is being put up under a joint venture in which Petronet LNG and the Kerala Government will have equal stakes.
Petronet LNG will need to invest between Rs 600 crore and Rs 700 crore for its equity, over the next three-four years. “The management expects to sign the PPA at Rs 6-6.5 a unit by the end of 2012-13,” the report says.
For the quarter ended June 2012, Petronet LNG achieved a turnover of Rs 7,030 crore and net profit of Rs 270 crore. Each share earned Rs 3.61.
On the NSE today, the Petronet LNG share opened at Rs 164.25.
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