PFC finances DVC's 1000 MW Kodarma power plant

New Delhi, Sep 2(UNI) Power Finance Corporation Ltd (PFC) has said it will fund the entire debt portion of Rs 2,949 crore for setting up 1,000 MW Kodarma Thermal Power Station, a part of Damodar Valley Corporation (DVC).

The estimated completion cost of the project is Rs 4,247 crore, which is to be met through Rs 1,298 crore of equity and debt of Rs 2,949 crore.

The equity portion would be met by DVC by its own resources/budgetary support and the debt portion is being funded by PFC.

The first unit of the power project is scheduled for commissioning by 2011 and the second unit is likely to go on stream by 2012.

The project would generate gross energy of 7008 Gwh/annum at 80 per cent PLF after commissioning, PFC said in a statement.

PFC has already sanctioned Rs 7,025 crore to DVC for their other projects, out of which Rs 1,992 crore have been disbursed.

The Kodarma power project will meet the growing power demand of North regional states including Delhi and Punjab.

The power purchase agreement was earlier signed between Delhi Transco Ltd and DVC for sale of 2,500 MW power proposed to be supplied from the on-going projects and future projects, including the proposed Kodarma TPS.

Nearly 1,870 acres of land is required for the power station (2x500 MW) which can be further expanded. Action has already been initiated for acquisition of the land.

DVC is seeking allotment of captive coal blocks of Central Coal Fields Ltd (CCL) command area for the project. However, pending allotment of the same, DVC has also applied for long term coal linkage for six million tonnes per annum 6MTPA as an intermediate solution.

Coal will be transported to the project site through the railway linkage available through Hirodih/Kodarma railway stations in bottom discharge wagons for unloading coal on to track hopper situated at the power plant premises.

UNI