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Gujarat Power Projects

Bhavnagar Energy Co plans 500 MW thermal unit in Padwa

Bhavnagar Energy Co Ltd, which is a company promoted by GSPL, GSIL, GMDC, GACL, GIPCL, GNFC and GSFC is setting up a 500 MW (2 x 250 MW ) thermal unit in Padwa village in Ghogha taluka, 25 kms from Bhavnagar. The power unit will be a pit based lignite unit and based on circulating fluidised bed technology and is expected to be completed by 2012. The company has already invited tenders for civil construction works. GMDC had been granted exlcusive rights to mine lignite in the state will be providing lignite for the project.

Videocon plans 6000 MW thermal projects

Videocon is planning to expand its thermal power generation capacity by adding around 6000 MW of thermal projects. It plans to double the Pipavav plant capacity by adding another 1200 MW coal based unit. Coal will transported from its Indonesian coal company and the company has already acquired land for the plant and signed power purhcase agreement (PPA) with Tata Power. It is also setting up 1200 MW power projects at Chhattisgarh and Kolkatta which will be pit head power projects.

GPPC plans 1053 MW gas based power project in Pipavav

GPPC Pipavav Power Co (GPPC) a special purpose vehicle set up by Gujarat State Petroleum company is planning to invest Rs.25,450 million to set up 1053 gas based power project in phases. In the first phase, it will set up a 351 MW gas fired power unit in Pipavav which is likely to be completed in December 2010 and the second phase by March 2011. It has tied up 80% of funds from Rural Electrification Corp. It has appointed BHEL as EPC contractor through international competitive bidding route.

The first phase of the project envisages the construction of two 351 MW gas based combined cycle power plants. Construction for the first phase has begun and is being undertaken by Bharat Heavy Electricals Limited who was appointed through a tender process. The land on which the plant will be located is currently owned by Gujarat Power Corporation Limited who is in the process of transferring it to GPPC.

Further, the Government of Gujarat and board of directors of GPPC have approved the sale of a 49.0% equity interest in GPPC to SWAN Energy Limited (“SWAN Energy”).

GPPC has entered into a power purchase agreement with GUVNL which is effective for 20 years from the commissioning of the first phase of the plant. A gas supply agreement with us and a gas transmission agreement with GSPL have also been entered into for the supply and delivery of gas, during the term of the project.

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The first 351MW unit is commissioned in December 2010, and the second unit by March 2011. The second phase of the project envisages expanding the capacity of the power plant by another 351MW. The project cost is estimated at INR25450 million ($559 million) that would be funded through 20% of equity and 80% of debt. However, the debt requirement to the extent of INR19350 million ($425 million) has been tied-up by Rural Electrification (REC). GPPC is a Special Purpose Vehicle (SPV) set up by GSPC (Gujarat State Petroleum Corporation) along with GPCL (Gujarat Power Corporation Limited), to implement a power project catering to energy requirements in Gujarat. GPPC has appointed Bharat Heavy Electricals Limited (BHEL) as the EPC contractor through international competitive bidding (ICB) route and the Notice to Proceed (NTP) was handed in March 2008.

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