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Krishnapatnam UMPP handed over to RPL

PHOTO: S. SUBRAMANIUM

MEGA PROJECT: Satnam Singh (left), Chairman, Coastal Andhra Power Ltd (CAPL), handing over the Krishnapatnam UMPP to J. P. Chalsani (right), Director (Business Development), Reliance Energy, in New Delhi on Tuesday. V. K. Garg (third from left), Chairman and Managing Director, Power Finance Corporation, and Shyam Wadhera (second from right), Director, Projects, PFC, look on.

NEW DELHI: Power Finance Corporation (PFC), the nodal agency for implementing Ultra Mega Power Projects, on Tuesday handed over the Special Purpose Vehicle (SPV) — Coastal Andhra Power Limited — set to execute the much delayed 4,000 MW Krishnapatnam Ultra Mega Power Project in Andhra Pradesh to Anil Ambani-owned Reliance Power Limited (RPL) at a function held here.

The transfer agreement was exchanged between senior RPL Executive, J. P. Chalsani, and Chairman, PFC, V. K. Garg and Satnam Singh, Director (Finance), PFC. Reliance Power had emerged as the lowest bidder for the project by bidding to supply power at an average of Rs. 2.33 per unit.

Krishnapatnam is the third UMPP conceived by the Government to fast-track power capacity addition and handed over to the private developer.

RPL’s bid was much lower than the other two bids received from Larsen & Toubro (Rs. 2.68 per unit) and Sterlite (Rs. 4.18 per unit). This is the second UMPP for Reliance Power after the award of 4,000 MW Sasan UMPP in Madhya Pradesh. While Krishnapatnam will be run on imported coal, Sasan is a pithead coal project.

RPL is hopeful of completing the project in 39 months.

Mr. Chalsani said RPL purposed to set up over 28,000 MW of power projects.

The project will entail an investment of over Rs. 16,000 crore and employ super critical green technology. The project will supply power to Andhra Pradesh (1,600 MW), Tamil Nadu (800 MW) Karnataka (800 MW) and Maharashtra (800 MW).

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