CHENNAI: The joint venture company, proposed by the Tamil Nadu Electricity Board and the Bharat Heavy Electricals Limited for a thermal power project in Tuticorin district using supercritical technology, will be the third such company involving the TNEB.
According to a senior official of the Board, equity participation of the TNEB and the BHEL will be 26 per cent each. The rest will be contributed by financial institutions.
The first such company was formed by TNEB and NTPC, a Central power utility, five years ago. It is executing a 1,000-megawatt coal-based thermal power project at Vallur in Tiruvallur district. In respect of this company, equity participation between the two utilities has been equally shared.
Following a memorandum of understanding in June 2003 between the TNEB and the Neyveli Lignite Corporation, the second company was formed to execute another 1,000-MW project in Tuticorin. The ratio of the equity participation is 11:89 between the TNEB and the NLC. All the clearances have been obtained, the official adds.
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