Astaranga Power, SPI Ports as well as KU Projects to face heat; deals wth Essar, Vijaya Power scrapped earlier
At least three independent power producers (IPPs) are likely to face stern action as of the Odisha management for late progress on their coal-based projects projected in the state.
Astaranga Power, SPI Ports Ltd as well as KU Projects might face the heat as the state administration has decided to crackdown on frivolous players.
“The progress made by Astaranga Power, SPI Ports as well as KU Projects is not reasonable. Their memorandums of understanding (MoUs) have failed and we are not willing to expand their deals. At the next conference of the state task force, we will acquire a call on the destiny of these IPPs. Preferably, we would resembling them to be off the record,” held Suresh C Mohapatra, principal secretary (energy).
The state head secretary G C Pati now took stock of the progress made by the IPPs. The state administration had initially signed MoUs with 30 IPPs, envisioning a generation capacity of approximately 37,000 Mw. Out of this; deals with Essar Power as well as Vijaya Power Ltd were scrapped because of unacceptable progress on their ventures. Mohapatra held, three IPPs- Vedanta assemblies firm Sterlite Energy, GMR Kamalanga as well as Jindal India Thermal Power Ltd (JITPL) have by now commissioned their ventures. These proponents were contributing 650 Mw to the grid as state distribute. Sterlite Energy was the earliest IPP to commission its 2,400 Mw (4×600) coal-fired plant at Bhurkamunda in the vicinity of Jharsuguda. GMR Kamalanga has pretend rivulet three 350 Mw units of its 1,400 Mw (4×350) plant.
Three additional IPPs — Ind-Barath Energy (Utkal) Ltd, Lanco Power as well as Monnet Power were in advanced juncture of commissioning their power plants. The 700 Mw power plant projected by Ind-Barath is projected to establish operations in a month or two, held Mohapatra. The state will acquire 25 per cent of power produced by these plants as its share.
The IPPs have previously invested more than Rs 32,000 crore on their ventures. The project promoters that have made considerable investments on their ventures are JITPL (Rs 4,564.26 crore), Monnet Power Company Ltd (Rs 4,100 crore), Lanco Babandh Power Ltd (Rs 4,850 crore) as well as Ind-Barath Energy Utkal Ltd (Rs 2,954 crore)
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