Ratnagiri Gas will be an equal JV between NTPC and GAIL if MSEB which has been offered a small stake does not pick up equity
MahaVitaran, which draws 95 per cent of the power from the project, has started drawing power at Rs 4 per unit.
The proposed expansion of the Dabhol power project under Ratnagiri Gas & Power Pvt Ltd (RGPPL) by 2,100 Mw from the present capacity of 1,940 Mw has been stalled for want of assured gas supply from the KG-D6 gas field, operated by Reliance Industries Ltd, and adequate number of power procuring states.
ExxonMobil-owned RasGas will supply liquefied natural gas by December to restart the Dabhol power project in Maharashtra, a top official said on Friday.
The government on Friday said 'all cases' relating to the beleaguered Dabhol power project have been settled.\n\n
In an attempt to find a lasting solution for the troubled $2.9 billion Dabhol Power Project, GE said on Monday it was joining hands with NTPC and BHEL to restart it.
The Central Electricity Regulatory Commission, the nation's Power regulator, has allowed Ratnagiri Gas and Power Private Ltd, the new owner of Dabhol power project, to sell electricity to Maharashtra government.
The project, with total generation capacity of 1,967 Mw, has been shut since Thursday, owing to shortage of gas.
ICICI Bank, IDBI Bank, SBI and Canara Bank collectively hold 18.12 per cent equity in RGPPL, which operates the plant.
The project is currently generating 240 MW against its total capacity of 1,967 MW.
Currently, the project generates 1,000 Mw.
At a meeting convened by Power Secretary VS Sampath later this evening with a team of officials from General Electric, the US-based company, which has supplied six gas turbines at Dabhol, has agreed to start negotiations on the Contractual Service Agreement of the project, according to official sources. The Dabhol power plant has three blocks with six gas turbines. However, only three turbines are functioning at present.
the terminal will not be used to run the Dabhol power plant and would be supplied entirely to other domestic companies
The company has four lenders -- State Bank of India, IDBI, ICICI and Canara Bank. According to the Reserve Bank of India norms, these loans would be declared as NPAs if the project is not financially restructured by March 31, 2009. The restructuring exercise includes a 50 per cent hike in the tariff for sale of power from the project, to be allowed by the Central Electricity Regulatory Commission. The project is expected to become viable after this.
The Maharashtra government has offered some respite for the troubled Dabhol Power Project by agreeing to provide a guarantee for a Rs 300 crore
The ad hoc exemption was given to Ratnagiri Gas and Power Private Ltd to import as well as re-import components, parts and materials required for revival of its Power block I under 'Adhoc Exemption Order 24/2007' issued on May 5, 2007. The finance ministry has not accepted the request of power ministry for considering extension of ad hoc exemption.
Decks have been cleared to restart the controversial Dabhol Power Project in Maharasthra as the company's US promoters withdrew all legal proceedings against the state and the central government before the arbitration panel in London.
The Ratnagiri Gas and Power Project, earlier known as the Dabhol project, will be dedicated to the nation by Prime Minister Manmohan Singh in the coming year, chairman of the Empowered Group of Ministers said.
US energy major Enron Corp's original contractors for the $2.96-billion Dabhol power project will complete the unfinished LNG terminal to restart the stalled 2,184 MW plant by next year.
The first stretch of Dahej-Panvel-Dabhol pipeline, which will feed natural gas to the beleaguered Dabhol power project in Maharashtra, has been commissioned.
The Maharashtra government on Monday authorised a three-member secretary level panel to discuss issues relating to starting the defunct Dabhol Power project with the central government.
The beleaguered Dabhol power project has hit a fresh roadblock with Punj Lloyd and its British partner Whessoe, the contractors for completing the LNG terminal, threatening legal action against Ratnagiri Gas and Power Pvt Ltd for default on payments.
Finance Ministry has written to the Power Ministry asking to freeze the completion costs of Dabhol plant.
India has emerged as one of the most favourable destinations of European and American investors among the Asian nations.
The $3-billion Dabhol power project in Maharashtra is facing delays in completion of the LNG receipt terminal, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Thursday.
The panel has decided to commence proceedings in the DPC fiasco probe from March 31.
GAIL India will hold 28 per cent stake in the special purpose vehicle, being set up for the revival of $2.9 billion Dabhol power project.
The Industrial Development Bank of India-led consortium will meet the foreign lenders in London on Wednesday for taking over their outstanding dues in the troubled Dabhol Power project.
The Maharashtra government will submit its proposal for purchasing electricity from Dabhol project, said Agriculture Minister Sharad Pawar, adding that the Centre will supply power at Rs 2.20 per unit.
The government on Friday decided to stand guarantee to domestic financial institutions to settle foreign debts of Dabhol Power Project as part of its efforts to settle the issue and restart the power company.
The government on Tuesday said it was considering various options for restructuring of the 2,184 MW Dabhol power project.
Terming the Dabhol Power project a "bump in the road", GE, a major stakeholder in the project, on Monday said delayed resolution has not affected the company's investment plans in India and suggested that NTPC should be given responsibility to operat
State-owned Gail India Ltd, which has been given the task to source fuel for restarting the Dabhol power project in Maharasthra, is talking to LNG suppliers in Qatar, Australia, Malaysia, Oman and UAE.
The empowered group of ministers (GoM) looking into ways to resolve crisis in the $3 Dabhol power project on Friday discussed various issues including the future course of action on litigation and restructuring but could not arrive at a decision.
India has sought 60 more days from an arbitration tribunal at London to respond to a claim of about $6 billion as compensation from GE and Bechtel, the foreign promoters of now-defunct Dabhol Power project in Maharashtra.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances