Home ODISHA LATEST NTPC, L&T keen to pick up equity in OTPCL

NTPC, L&T keen to pick up equity in OTPCL

0
SHARE

Reported by Chinmaya Dehury/Edited by Swetaparna Mohanty

 

Bhubaneswar, Aug 6

L & T

With the Odisha government planning to offload stakes in Odisha Thermal Power Corporation Ltd (OTPCL) and looking for a strategic partner for its 2,400 MW (3×800) MW coal-fired power plant proposed to be set up at Kamakshyanagar in Dhenkanal district, engineering giant Larsen & Toubro (L&T) and power major National Thermal Power Corporation (NTPC) have evinced interest to be equity partners in the power project.

OTPCL, a 50:50 joint venture between Odisha Mining Corporation (OMC) and Odisha Hydro Power Corporation (OHPC), has hit a roadblock as both the companies do not have the expertise to implement the project prompting the government to look for a strategic partner to set up the plant.

“L&T and NTPC have evinced interest to pick up stakes in the OTPCL project. However, the stake holding pattern is yet to be finalized. The government will sell equity to a company for better management of the plant,” said a senior official of Energy department.

NTPC 1

According to sources, L&T has evinced interest to pick up 26% share in the project.

Earlier, the state government was in favour of offloading 74 % stakes in the power project to a private player. However, it has now decided to hold controlling (51%) stake after facing sharp criticism over handing over 74% stakes to Sainik Mining by OMC to explore mines allocated to the state PSU.

The government has decided to adopt the Ultra Mega Power Plant (UMPP) model and induct a strategic partner through competitive tariff bidding for 25 years.

The 2400 MW project of OTPCL, to be set up at a cost of Rs 10,000 crore, needs 1969.78 acres of land of which 987.77 acres is government land, 83.94 acres forest land and 982.015 acres of private land. The state government has already accorded administrative approval for acquisition of 982.01 acres of private land at the project site.

OTPCL has already got water allocation from the department of Water Resources. With regard to coal feed for the proposed power plant, OHPC and OMC have pledged to provide 200 million tonnes and 300 million tonnes respectively from the Mandakini-B coal block allotted to them.