Mumbai, Jun 23: ONGC Tripura Power Company Limited (OTPC) has placed a Letter of Award (LoA) worth Rs 2,207 crore on consortium of Bharat Heavy Electricals Limited (BHEL) and General Electric (GE) for the generation of 720 MW of power from Natural Gas produced by ONGC in the north-eastern state of Tripura.
The 360 X two MW combined cycle gas turbine power plant is being developed by OTPC at Palatana in south Tripura. ONGC has 50 per cent equity stake in OTPC, the balance being held by IL &FS and the Government of Tripura. The Letter of Award followed a bidding process in which two bidders -- Alstom and BHEL-GE combine had participated.
The first unit of 360 MW would be installed in 42 months, followed by the second unit within three more months.
ONGC in a release here said in addition to generation, the project includes transmission of the power, for which an independent Special Purpose Vehicle (SPV) - a joint venture between Power Grid Corporation of India Limited (PGCIL), OTPC and North-Eastern Region (NER) beneficiaries - would develop a transmission system, to hook Palatana with the national grid at Bongaigaon. The likely cost of this transmission system is around Rs 1,800 crore.