Thursday, Feb 28, 2002
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BANGALORE, FEB. 27. The Karnataka Power Corporation Ltd. (KPCL) today initialled a power purchase agreement (PPA) with the Karnataka Power Transmission Corporation Ltd. (KPTCL) for the coal-based 500 MW fast-track Bellary Thermal Power Station (BTPS), coming up at Kudatini in Bellary District. The generation capacity of the plant can be expanded to 1,500 MW. K. Jothiramalingam, Managing Director, KPCL, and V.P. Baligar, Chairman and Managing Director, KPTCL, signed the agreement at a function here in the presence of the Chief Minister, S.M. Krishna. They signed another PPA on the existing hydroelectric projects which together have a generating capacity of 2,800 MW. The Minister of State for Energy, Veerakumar Patil, was present.
Mr. Krishna, who presided, said the Congress president, Sonia Gandhi, would tee off the formal commencement of the work at Kudatini on Saturday. He clarified that the foundation stone for the thermal plant was not being relaid. The foundation stone was laid by the late Chief Minister, J.H. Patel, in 1999.
The project will get one tmcft of water recycled from the Tungabhadra achkat, and the Secretary, Water Resources, S.J. Channabasappa, handed over the relevant Government Order to the KPCL.
P.J.V. Sarma, General Manager, ICICI, handed over the in-principle commitment letter for the entire debt of the Rs. 2,217-crore project. K.G. Ramchandran, CMD, BHEL, submitted an agreement letter to take up 20 per cent equity in the project.
He said the plant would have a dedicated coal mine, and there would be a tie-up with cement companies for ash disposal. The KPCL, he said, had earned a net profit of Rs. 196 crore, Rs. 6 crore more than in the last financial year.
K.P. Pandey,Principal Secretary,Energy, Chiranjeev Singh, Principal Secretary, Finance, and S.V. Ranganath, Principal Secretary to the Chief Minister, were present.
Mr. Baligar said the term of the new two-part tariff would be 15 years. The existing average tariff for hydel power was 44.83 paise per unit, and the proposed tariff was 59.23 paise per unit. The corresponding tariffs for thermal power were 202.39 paise and 190.84 paise. The existing overall tariff, including hydel and thermal power, was 113.86 paise per unit, while the proposed tariff was 116.72 paise. The overall increase would be 2.51 per cent.
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