The Abhijeet MADC Nagpur Energy Private Limited (AMNEPL) is coming up with a 241 MW power plant with four units of 61.5 MW each. Generation in the first unit started around four days ago and has been synchronised with the grid. "Full-fledged production of 61 MW is expected to start within a fortnight," said a senior official of the company.
Sources in the company reveal that there are good chances that all the power generated (from April next) here will be sold in the open market as there's unlikely to be much demand in Mihan. The second unit is expected to start by January and the remaining two in March and April.
"The power plant was set up with the aim of providing power to the industries coming up in Mihan. We were expecting that there would be a demand of at least 50MW. However, we are now exercising the option of supplying power in the open market," said the senior official.
Abhijeet Group would be selling power at Rs 4 per unit to Reliance while the rates were pegged at Rs 2.92 with MADC. "The MADC remains our priority client and we will shift our focus to Mihan once it gets going," the official added. "Selling in the open market is always a profitable proposition than being a captive vendor as it fetches higher rates."
With a coal supply allocation from Western Coalfields Limited (WCL) yet to be cleared, currently the company is buying the fuel from open market. Sources said that a linkage of over 10 lakh tonnes has been done in the name MADC as it had initially moved the application. However, with this joint venture company operating the plant, the allocation will have to be transferred to its name. "This will need an endorsement by the ministry of coal based on an application by MADC, which is the original allottee," said the official.
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