Tata Power-DVC break new ground on 1000mw power project

RELATED NEWS Tata Power signs MoU with Govt of Orissa for 1000mw project CRISIL reaffirms very strong rating for Tata Power’s STD Tata Group charts out mega expansion plans ALSO READ See latest News about Tata Power See previous management interviews See what other Experts & Brokerages are saying about Tata Power Tata Power BSE | NSE 10/02/12 Are Mutual Funds betting on Tata Power?

Maithon Power Limited, a joint-venture between Tata Power and Damodar Valley Corporation today announced its ground breaking for the 1000 MW Mega Power Plant at Maithon site. The ground breaking ceremony for this project was conducted today at the hands of Shri Sushilkumar Shinde, Hon'ble Minister of Power, Government of India in the presence of Shri Madhu Koda, Hon'ble Chief Minister of Jharkhand. The 1000 MW Right Bank Thermal Power Project is the first initiative in public-private partnership in the area of generation. This follows similar successful pioneering partnership initiatives of Tata Power with the public sector in transmission and distribution through Powerlinks (Tala Transmission project) and NDPL (distribution in Delhi), marking it out as the only private sector entity to lead the way in public-private JVs in all core areas of the power sector.

 

Power from the Maithon Project is to be exported to power deficit western and northern states and for meeting the requirements of Damodar Valley Corporation (DVC). Financial closure for the Maithon Project is targeted around mid 2007. As per current plans, the project will comprise of two generating units of which the commissioning of the first unit is scheduled for late 2009 and that of the second unit by mid 2010. The total land required for the project is about 1200 acres and currently a significant portion of the land has been acquired by DVC. The project has all the major permits and clearances, including from the Pollution Control Board and MoEF.  Long-term coal linkage has been allotted from BCCL mines and water allocation is from the adjacent Maithon reservoir.

 

Speaking on the occasion, Shri Sushilkumar Shinde, Hon'ble Minister of Power, Government of India, said, "I am happy that the much awaited 1000 MW Maithon Right Bank Power Project is being commenced through a pioneering Joint-Venture initiative of Tata Power and DVC. I am delighted to be present for the auspicious occasion of Ground breaking ceremony of this historic project."

 

Mr. Adi Engineer, Director, The Tata Power Company Limited said, "This Joint Venture is a public-private partnership towards meeting the power supply needs of the country. For Tata Power, the venture also marks an initiative towards acquiring a truly national footprint and providing power at economic rates for the end consumer. The Agreement marks a successful trend and offers hope for more such joint initiatives for the power sector in the future."

 

Contd on page 2...