Power Finance Corporation on Monday transferred Coastal Gujarat Power Ltd, the special purpose vehicle for the 4,000-MW Mundra Ultra Mega Power Project, to Tata Power Company.
The Mundra Project has become the first such project to be transferred to its successful bidder. The Power Ministry had planned nine UMPPs at an estimated cost of Rs 1,50,000 crore.
Tata Power Company had submitted the lowest tariff of Rs 2.26 per unit, a levelised rate for 25 years. The company would, however, generate power at Rs 1.91 per unit during the first year. The Mundra project, which includes five units of 800 MW, would use super critical technology to generate power with greater fuel efficiency.
The Rs 16,000-crore project would supply 1,900 MW to Gujarat, 800 MW to Maharashtra, 500 MW to Punjab and 400 MW each to Haryana and Rajasthan.
The transfer documents were exchanged in the presence of Power Minister Sushilkumar Shinde.
The Mundra Project has become the first such project to be transferred to its successful bidder. The Power Ministry had planned nine UMPPs at an estimated cost of Rs 1,50,000 crore.
Tata Power Company had submitted the lowest tariff of Rs 2.26 per unit, a levelised rate for 25 years. The company would, however, generate power at Rs 1.91 per unit during the first year. The Mundra project, which includes five units of 800 MW, would use super critical technology to generate power with greater fuel efficiency.
The Rs 16,000-crore project would supply 1,900 MW to Gujarat, 800 MW to Maharashtra, 500 MW to Punjab and 400 MW each to Haryana and Rajasthan.
The transfer documents were exchanged in the presence of Power Minister Sushilkumar Shinde.
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