Commissions 363.3 mw gas-based plant in Tripura; makes state power-surplus.
ONGC, India’s biggest oil and gas explorer and producer, officially ventured into commercial power generation on Friday after commissioning a 363.3 megawatt (mw) gas-based power plant at Palatana in the north-eastern state of Tripura.
It was inaugurated by President Pranab Mukherjee.
The power plant not only makes Tripura a power surplus state from a power deficit one in a day, it will also feed to neighbouring states when fully commissioned.
The plant’s full capacity will be 726.6 mw and will be completely commissioned by August 2013.
ONGC is the main promoter of the plant with a 50% stake, while IL&FS holds 26% stake and Tripura government 0.5% stake. It was built at a cost of Rs 3,500 crore, and with transmission lines and related infrastructure cost around Rs 10,000 crore.
The project has been implemented by a special purpose vehicle ONGC Tripura Power Company (OTPC).
Apart from selling power to nearby states through long-term power purchase agreements, OTPC will also have 98 mw additional power to sell on merchant basis.
During the function, Mukherjee said the plant will be completely run on captive gas produced from ONGC’s gas fields in Tripura and help making the state an industrial hub.
Sudhir Vasudeva, chairman and managing director, ONGC, in his speech at the inauguration, said the project, which was conceived by his predecessor Subir Raha in 2005, has opened up new areas of co-operation between India and Bangladesh as the latter helped in opening up a new sea route.
Petroleum and natural gas minister Veerappa Moily said this is ONGC’s first venture into commercial power generation and paves the way for more such projects.
He said the company will be investing another Rs 600 crore to set up another 104 mw power plant to feed the neighbouring regions.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}