Wednesday, April 20, 2011

Sasan Project:RPower to commission Sasan project''s first unit in Jan 2013

Sasan (Madhya Pradesh), Apr 20 (PTI) Reliance Power today said it plans to commission the chiefly unit of its 3,960 MW-Sasan Ultra Mega Power Project in January 2013.

The first unit of 660 MW of the Sasan project in Madhya Pradesh would be springing up ahead of its Power Purchase Agreement (PPA) schedule.

"We are good amongst the rapid progress making achieved at the site and are confident of bringing the project much ahead of original PPA schedule with the earliest unit starting in Jan 2013," Reliance Power CEO J P Chalasani said.

"Sasan, with its landmark tariff of Rs 1.19 per Kwh, are able to windfall energy borrowers in seven states due to its early commissioning," he added.

As per the PPA agreement, the first unit was to be anticipated by May 2013. According to the company, the six houses of 660 MW each might be commissioned by June 2014.

Sasan anticipate is anticipated to cost around USD 4.3 billion, provided financing by an equity contribution of USD 1.2 billion and go financing to the tune of USD 3.1 billion.

The presume has obtained ultimate commitments for term financing of more as opposed to USD 1.1 billion on Chinese banks.

"Sasan''s loans is unusual with both US Exim Bank and Chinese Banks joining the Indian lenders for financing the Project. The financing not only ensures competitory rates, but as well assists in reducing foreign exchange risks and resources performance risks," Chalasani said.

Based on super-critical technology, Sasan UMPP is a pit attempt coal-fired power plant and the company has entered to a 25-year PPA with off takers of power for the overall 3,9602 MW capacity.

Power generated of Sasan would be issued to seven states -- Madhya Pradesh, Punjab, Uttar Pradesh, Delhi, Haryana, Rajasthan and Uttarakhand.

Chalasani noted so additonally in posession of a coal mine along with the power project increases the complexity of the project, "in the long run, the benefits of protected power availability and control within the duration of fuel prices far outweigh the increase in value in earliest efforts required." PTI RAM SUM

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