NEEPCO signs PPAs for Agartala GT plant

NEEPCO has signed PPAs with Assam PDCL, Electricity Department, Mizoram and Tripura State Electricity Corporation Limited for its 52 MW Agartala Gas Turbine extension power project in Tripura.

Cabinet's approval for the Rs 291.94 crore investment needed for its execution is, however, still awaited. The cost will include interest during construction of Rs 25.54 crore, while the projected completion period is 30 months from investment approval.

The project will be funded via a debt-equity ratio of 70: 30. That implies that NEEPCO will arrange for Rs 204.36 crore from various financial institutions, while it will contribute the Rs 87.58 crore from its internal resources.

Out of the total, around Rs 20.75 crore will be spend within the current Plan period, while the balance amount, Rs 271.19 crore, will be spent in the next Plan.

NEEPCO intends to convert the existing 84 MW plant to combined cycle, using an air cooled condenser system, to generate around 377.58 MUs of energy per year.

The project is targeted for commissioning during 12th Plan period.