Palatana: The much awaited 726.6 MW gas-based power plant will be formally inaugurated tomorrow by the President Pranab Mukherjee. The power plant developed by the state-run Oil and Natural Gas Corporation (ONGC) is located at Palatana in Tripura.
The project involving an investment of about Rs3,429 crore is executed by ONGC through a special purpose vehicle named, ONGC Tripura Power Company. Of the said SPV, ONGC possess 50% stake, whereas IL&FS Ltd owns 26%. The Tripura government presently withholds an equity share of 0.5%, however, the remaining resources is yet to be acquired.
The said project is also expected to aid 20 MW of power to meet the requirements from Manipur. Power production has already commenced from Unit-I, involving 363 MW, which was synchronized on October 2012. The company anticipates to initiate operations from the second unit by this August.
The project involving an investment of about Rs3,429 crore is executed by ONGC through a special purpose vehicle named, ONGC Tripura Power Company. Of the said SPV, ONGC possess 50% stake, whereas IL&FS Ltd owns 26%. The Tripura government presently withholds an equity share of 0.5%, however, the remaining resources is yet to be acquired.
The said project is also expected to aid 20 MW of power to meet the requirements from Manipur. Power production has already commenced from Unit-I, involving 363 MW, which was synchronized on October 2012. The company anticipates to initiate operations from the second unit by this August.