Hindustan Powerprojects to partner with UP goverment
Posted on Mar 04 2014 | IBNS
Lucknow, Mar 4 : In a move to fast track the infrastructural development in Uttar Pradesh, the state-owned Uttar Pradesh Power Corporation Limited (UPPCL) had invited bids for procuring ~6000 MW of power.
Based on the bids submitted, the UP government is now signing Power Purchase Agreements (PPA) with the first seven players, thereby addressing a power deficit of almost 40 percent in the state.
The long-term PPAs that has been facilitated through this bid process and will result in a humongous savings volume of Rs. 5,510 Crore each year - an amount, which is bound to benefit the state immensely.
Uttar Pradesh Power Corporation Limited (UPPCL) placed a Letter of Intent (LoI) for 3625 MW, with the lowest seven tariff bids. The intention of the government to address the power shortage and accelerate the pace of industrialization is evident from is signing of these long term PPAs.
The thermal arm of Hindustan Powerprojects, as part of its PPA, will transmit 361 MW to cater to the state's base load requirement, from its Anuppur Thermal Power Project, Phase-1 located in District Anuppur, Madhya Pradesh. The power would be transmitted through a Powergrid.
Ratul Puri, Chairman, Hindustan Powerprojects said, "We are happy to partner the progressive thinking of the UP government. We believe that Uttar Pradesh government has taken a significant step in the direction of providing uninterrupted supply and more such initiatives should place the State as a energy sufficient place. We have always believed in the potential of the State and are committed to work towards uninterrupted power supply here."