KARNATAKA

State to form SPV for three thermal plants

B.S. Satish Kumar

The power plants will be set up by private sector firms



ESCOMs to invest Rs. 1 crore each in new company

Plants at Jewargi, Chamalapura, Ghataprabha



BANGALORE: The State Government has decided to float a new company, Karnataka Power Company Ltd., as a Special Purpose Vehicle to set the stage for the implementation of three thermal power projects. These projects, with a capacity of 1,000 MW each, are being offered to the private sector for implementing on a build, own, operate basis. Each of the five electricity supply companies (ESCOMs) will invest a share of Rs. 1 crore in the proposed company.

According to sources in Karnataka Power Transmission Corporation Ltd. (KPTCL), the new company will help set up the three coal-based generation plants at Chamalapura in Mysore district, Jewargi in Gulbarga district and Ghataprabha in Belgaum district.

The proposed company, which will soon be registered, will not only select the developers for these projects through bids but also work towards getting the necessary clearances from Central and State agencies.

The State Government had invited Expression of Interest from generating companies on February 22 to set up the thermal stations. There was an overwhelming response, with 29 companies, including Tata, Reliance, Lanco and the National Thermal Power Corporation (NTPC), evincing interest in setting up the power plants.

Other companies that have shown interest include GMR group (promoters of Tanir Bavi Power Company Ltd.), Jindal Power Company, Nagarjuna Chemicals and Fertilisers, Torrent Power Ltd., and the Orissa Power Corporation.



ESCOMs to invest Rs. 1 crore each in new company

Plants at Jewargi, Chamalapura, Ghataprabha





Recommended for you