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The second unit of state-owned Oil and Natural Gas Corporation's (ONGC) 726.6-MW gas-based power plant at Palatana in Tripura is expected to commence operation around August-September this year.
The 2x363.3 MW combined cycle gas turbine based power project has been built by ONGC through a special purpose vehicle, ONGC Tripura Power Company (OTPC).
ONGC holds 50% stake in the company while Infrastructure Leasing and Financial Service (IL&FS) has 26%. The government of Tripura has 0.5% equity while the balance is yet to be tied-up.
On Friday, President Pranab Mukherjee inaugurated the first unit of the power project built at a cost of R3,804 crore.
Speaking at the inauguration ceremony, Mukherjee said the power plant will meet the requirements of power deficient states in the north region and could potentially open up opportunities for industrialisation in Tripura as well.
ONGC supplies 2.65 million standard cubic metres per day (mmscmd) of gas to the power plant under a 15-year gas sale and purchase agreement.
The OTPC has entered into a long-term PPA with the beneficiary states in the North-East for approximately 87% of the total project capacity as per the allocation decided by the ministry of power.
Assam will get a share of 240 MW of electricity followed by Tripura (196 MW), Meghalaya (79 MW), Manipur (42 MW), Nagaland (27 MW), Mizoram (22 MW) and Arunachal Pradesh (22 MW).
Petroleum minister Veerappa Moily, who was also present at the occasion, said this single project initiative of ONGC would bring in investments in excess of R10,000 crore in the region. This includes the upstream investment of ONGC for supply of gas to the project and also the downstream transmission line from the project site at Palatana to the PGCIL grid-point at Bongaigaon being set up by the North East Transmission Co (NETC) for evacuation of power from the project.
The laying of the Palatana-Silchar-Byrnihat section has been completed while the balance portion upto Bongaigaon is expected to be completed matching with the commissioning of the second unit. The construction of the project, which began in 2005, was initiated to utilise the natural gas available in Tripura as there was no local demand for it and it is difficult to transport to other parts of the country, owing to geographical limitations.
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