BANGALORE: With growing interest among the investors — both international and national — in the energy sector, the state energy department hopes to rope in investments worth Rs 1,200 crore at the Global Investors Meet in June.
“For the Global Investors Meet, we have 3,000 MW of projects on offer,” said K Jairaj, principal secretary (Energy). “Foreign investors have shown positive interest in taking power projects here.” The energy department has already floated tenders for projects. 700 MW projects are being offered in Davanagere and Belgaum, while issues such as land, water and other related factors are being decided.The Power Company of Karnataka Limited will call for expression of interest on June 4, Jairaj said.
A 700 MW gas-based project on non-PPA (Power Purchase Agreement) basis will also be offered, he said.
Foreign investors have showed interest in gasbased projects and even renewable energy projects, the official said.
Leading private power companies, i n cluding GE, would be participating.
“We have had positive responses from all foreign embassies and many private players,” said a senior official. “There has been considerable interest in 80 to 300 MW gas-based projects.” The Gas Authority of India Ltd has agreed for b6 gas-pipelines. “Though the gas rates will be slightly high, still the companies can benefit from switching from diesel (to gas),” he said.
Actualising deals will take 4 years
It is estimated that the projects, after the sanction, will take around three to four years to be fully operational. At present, the demand-supply gap in the state is around 20 per cent. Karnataka is aiming to increase its supply to 14,383 MW against a projected demand of 13,531 MW by 2013-14.
Rs 1,000-cr dreams for textile sector
Textile Minister Goolihatti Shekhar said over Rs 1,000 crore investment was expected in the textile sector. Garment giants like Shahi Exports and Bombay Rayon have come forward for investment.
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