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PFC to fund DVC’s power plant; Delhi to benefit

NEW DELHI: In a welcome development for Delhi’s citizens, the Power Finance Corporation has signed a memorandum of understanding with the Damodar Valley Corporation (DVC) for funding of its 2X500 MW Kodarma Thermal Power project at Kodarma in Jharkhand, whose power would be made available to the Capital by the end of the 11th Five Year Plan.

The power generated from this project would be directed to Delhi as DVC and Delhi Transco Limited have already entered into a power purchase agreement for sale and purchase of 2,500 MW of power from various projects, including one from Kodarma.

The MoU was signed in the presence of PFC Chairman and Managing Director V.K. Garg and DVC Chairman A. K. Burman by the Directors of the respective companies. According to the MoU, the equity portion would be met by the DVC from its own resources and through budgetary support.

The estimated completion cost of the project is Rs. 4247 crore.

The first unit of the coal-based project is scheduled for commissioning by 2011 and the second unit by 2012. The tariff has been worked out at Rs. 2.40 per unit.

The Kodarma thermal power station is one of the power projects being undertaken by DVC to meet the growing power demand of Northern States including Delhi and Punjab.

The Damodar Valley Corporation is already in the process of acquiring land for the project and is seeking allotment of captive coal blocks of Central Coal Fields Limited command area.

However, pending allotment of the same, DVC has also applied for long-term coal linkage for 6 million tonnes per annum as an intermediate solution. Coal will be transported to the project site through the railway linkage available through Hirodih/Kodarma railway stations in bottoms discharge wagons for unloading coal on to track hopper situated at the power plant premises.

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