Adanis may set up 1,000-mw power plant in Chattisgarh
Adani group is looking at setting up a 1,000-mw coal-based power plant at an estimated cost of Rs 4,000 crore in Chattisgarh to supply power to Gujarat government.
By Narayan Bhatt & Mitul Thakkar, TNN |
AHMEDABAD/VADODARA: Adani group is looking at setting up a 1,000-mw coal-based power plant at an estimated cost of Rs 4,000 crore in Chattisgarh to supply power to Gujarat government.
Another major trading house from Ahmedabad, Vishal Exports group, will have a minority stake in this project. This project is in addition to the 1,000-mw power project being set up by Adanis at Mundra.
Sources say that if the Adani group gets sufficient allotment of coal mines in Chattisgarh then it may even consider setting up a power plant, much in excess of 1,000 mw. Adani official said the Chattisgarh plan is still at a very early stage and it may not happen if they do not get sufficient allocation of coal mines.
In the new tariff-based policy of the Gujarat government, Adanis, in a consortium with the Vishal group, have been shortlisted for supplying 1,000 mw to the state at Rs 2.35 per unit. As per the proposal, the consortium has indicated that they may supply power from their proposed plant in Chattisgarh.
Vishal Exports senior executive told ET that they are the minor partners in this project and it is the Adani group which will decide finally where this new plant needs to be set up. ���As this will be our first thermal-based power plant, we have taken a small exposure so as to take this as a learning experience,��� said an executive with Vishal Exports.
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The consortium still has about 50 days time to sign the power purchase agreement and thereafter it will be given five years time to commission its plant and start supplying power to the Gujarat government at Rs 2.35 per unit. ���We still have sufficient time to decide where the power plant can be set up,��� said an Adani executive.Recently, the Adani group, which had submitted a rate of about Rs 3.25 per unit for supplying 1,000 mw power to the state government under the Bid-1 process, revised it downward to Rs 2.89 per unit.
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