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Petronet to finalise investment in power in next 2-3 months
Liquified Natural Gas major Petronet LNG today said it expects to finalise investment in the power sector in the next two-three months, in joint venture with Gujarat State Petronet group.
Liquified Natural Gas major Petronet LNG today said it expects to finalise investment in the power sector in the next two-three months, in joint venture with Gujarat State Petronet group.
"We are waiting for a firm PPA in place for at least one-third of the proposed capacity before the board goes ahead with the project," Petronet LNG Managing Director & CEO AK Balyan said on the sidelines of a Ficci seminar.
"The unit cost would be around Rs 4.5 per unit, comparable to thermal power project based on imported coal," he said.
Moreover, Balyan said they were in favour of going ahead with the 1,200-MW power project fired with LNG to be executed in phases of 370-MW each of three units.
"The power project by us will have some inbuilt benefits like no VAT of 12.5%, no re-gasification cost for the project and 8-9% better efficiency," Balyan said.
Meanwhile, he said the site for the third LNG terminal coming up at east coast of the country by LNG Petronet will be finalised by the end of the calender year.
The terminal will have a capacity of 5 million tonnes per annum with options to expand it further.
The Kochi terminal is expected to be operational by November-December, Balyan said.
