Search the Internet          Tips  Sites: Finance, Investment

Maharashtra to buy DPC power at Rs 2.77 per unit: Bhujbal

Deputy Chief Minister Chhagan Bhujbal said that the Maharashtra government was ready to buy power from the Dabhol Power Company at the rate of Rs 2.77 per unit

Addressing the media in Nagpur on Saturday Bhujbal said: "The Democratic Front government will finalise the power purchase agreement to buy DPC's power, as the 2184 MW plant was lying idle and the state needed to overcome a severe power shortage."

He said negotiations with the National Thermal Power Corporation to operate the plant were on.

Last month, GE Capital, DPC's equipment supplier, agreed to support NTPC in assessing the plant condition and help restart generation.

A high-level team comprising representatives of GE, NTPC, Bechtel, Maharashtra State Electricity Board and IDBI-led lenders' consortium will visit the plant soon to take stock of the situation.

Union power secretary R V Shahi also said that the Centre was ready to persuade NTPC "to run and if required complete" the idle power plant, but purely on commercial considerations.

Maharashtra Chief Minister Vilasrao Deshmukh had earlier rejected an offer by IDBI-led lenders to resume the purchase of power at Rs 2.86 per unit of the project's phase-I.

ALSO READ:
The Enron Saga
More Money Headlines