(RTTNews) - Engineering and construction company BGR Energy
Systems Ltd. said it had entered into a memorandum of understanding, or MoU, with the Orissa government to set up 1,320 MW (2 x 660 MW) independent power producer at Bhapur, Nayagarh District, at an estimated cost of Rs.6,287 crore.
BGR Energy Chairman & Managing Director B.G. Raghupathy and Energy Secretary (Orissa government) P.K. Jena signed the MoU on Friday in the presence of Chief Minister Naveen Patnaik and other senior officials.
The Chennai-based company said the project would be implemented by a special purpose vehicle.
As per MoU, the state government will assist the project with land acquisition, water and mandatory clearances, and facilitates allotment of captive coal blocks or coal linkage for the purpose of mining to be utilized for the project.
The company said the Orissa government was entitled to buy 12% to 14% power generated from the plant, at variable cost as determined by the Orissa Electricity Regulatory Commission. BGR Energy special purpose vehicle would be free to sell the remaining power within or outside Orissa.
BGR Energy Chairman & Managing Director B.G. Raghupathy and Energy Secretary (Orissa government) P.K. Jena signed the MoU on Friday in the presence of Chief Minister Naveen Patnaik and other senior officials.
The Chennai-based company said the project would be implemented by a special purpose vehicle.
As per MoU, the state government will assist the project with land acquisition, water and mandatory clearances, and facilitates allotment of captive coal blocks or coal linkage for the purpose of mining to be utilized for the project.
The company said the Orissa government was entitled to buy 12% to 14% power generated from the plant, at variable cost as determined by the Orissa Electricity Regulatory Commission. BGR Energy special purpose vehicle would be free to sell the remaining power within or outside Orissa.
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