Torrent Power signs MOU with GPCL for 1000+ MW Pipavav project

Ahmedabad, May 22 (UNI) Torrent Power Limited today signed an MOU with Gujarat Power Corporation Limited (GPCL) for setting up a 1000+ MW coal-based power project at Pipavav in Amreli district.

The project is proposed to be implemented by March 2012.

Principal Secretary (EPD) Government of Gujarat IAS Vijayalaxmi Joshi and GPCL CMD Sudhir Mehta, Chairman, Torrent Power executed the MOU in the presence of Minister of State for Finance, Energy and Petrochemicals, Government of Gujarat Saurabh Dalal.

The ceremony was held at the GPCL office in Gandhinagar, an official release here said.

The Pipavav project would be set up through a Special Purpose Vehicle. Land for the project has been identified in close proximity of the Pipavav port and a substantial portion of land has already been acquired. Initially the project will have a capacity of 1000 MW, which can be subsequently increased.

GPCL is the nodal agency set-up by the Government of Gujarat to promote power projects in the State. Since inception GPCL has facilitated setting up of 1115 MW in the State and has participation in projects totaling 4700 MW under implementation. It has also initiated action for setting up other 13600 MW capacity in the State at various locations.

Torrent Power Limited is one of the largest private sector players in the country having integrated operations in the power sector. It currently generates 500 MW power through its coal and gas based power plants in Ahmedabad and is in the process of setting up a 1130 MW SUGEN gas-based combined cycle power project near Surat.

It distributes power in the cities of Ahmedabad, Gandhinagar and Surat in Gujarat and in Bhiwandi in Maharashtra to nearly two million customers. Its T&D losses of about 9 per cent in Gujarat is amongst the lowest in the country.

UNI