With warring parties thrashing out a settlement over Dabhol Power Company, multinational power majors GE and Bechtel on Tuesday
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 April 25 deadline for the Dabhol power plant is looking increasingly unlikely as critical components have not yet reached the plant and there is an urgent need of repairs.
In line with the target to restart Dabhol power plant next year, Ratnagiri Gas and Power Pvt Ltd will soon begin the process for signing a power urchase Agreement with Maharashtra with an offer to sell power at around Rs 2.70 per unit.
The government has asked Reliance Industries to supply natural gas from the company's eastern offshore D6 fields to the beleaguered Dabhol power plant, a segment that gets top preference for gas allocation along with fertiliser units.
This supply is likely to start in the next few weeks. A proposal to hive off the terminal was turned down by the government last year after it was opposed by NTPC Ltd and Gail, which hold 28 per cent each in the project. The terminal has an LNG regassification capacity of five million tonnes per annum. It will, however, be fully operational only after the completion of the breakwater facilities in 2011.
Indian lenders to the Dabhol power plant are close to a settlement with Bechtel, which will clear the last major hurdle in reviving the 2,184 MW power plant that has been shut for over four years.
A ministerial group is mulling a proposal to increase the troubled Dabhol power plant's capacity to 5,000 Mw from the present 2,184 Mw to ensure its long-term viability.
The Empowered Group of Ministers on Ratnagiri Gas and Power Pvt Ltd on Wednesday decided to pool the price of gas for Dabhol
New Delhi The government has decided not to sell the Dabhol power plant, which has been struggling thanks to huge debts it owes to the contractors.
The Dabhol power plant has seen power generation plunge in recent days on account of dwindling gas supplies.
Finance Ministry has written to the Power Ministry asking to freeze the completion costs of Dabhol plant.
Ratnagiri Gas and Power Pvt Ltd, the new owner of Dabhol power plant, will restart generation in October after a three-month gap, but the cost of power will jump to about Rs 6.25 per unit from Rs 4.25 earlier.
The Maharashtra government is heavily banking upon Dabhol power plant to start functioning at its full capacity of 2,150 Mw to help the state tackle the 5,000 Mw shortage during peak summer season.
The laying of gas pipeline to feed the 2,150-Mw Dabhol power plant owned by Ratnagiri Gas and Power Private Ltd has been delayed again.
Dabhol power plant is a lesson on what to avoid while setting up large infrastructure projects.
Qatar has agreed to supply 1.2 million tonnes per annum of liquefied natural gas to fire the Dabhol power plant in Maharashtra, but differences persist over the price.
MahaVitaran, which draws 95 per cent of the power from the project, has started drawing power at Rs 4 per unit.
The beleaguered Dabhol power plant is unlikely to be restarted this month as was earlier expected
State-run Gail (India) Ltd on Friday approved Rs 500 crore (Rs 5 billion) investment in Ratnagiri Gas and Power Pvt Ltd, the special purpose vehicle created to restart Dabhol power plant in Ratnagiri, Maharashtra.
Ratnagiri Gas & Power Pvt Ltd, in charge of Dabhol assets since 2005, has admitted it is passing through a difficult phase in the absence of gas allocation and low recovery of dues from the Maharashtra State Electricity Distribution Company.
Prime Minister Manmohan Singh on Tuesday dedicated GAIL India Ltd's 1,000 km Dabhol-Bangalore natural gas pipeline to the nation.
The process to restart the 2184-MW Dabhol power plant has received a jolt with promoters, GE and Bechtel, slapping an arbitration notice on Maharashtra State Electricity Board for recovery of Rs 26,000 crore (Rs 260 billion) towards investments and l
The Group of Ministers, constituted by Prime Minister Manmohan Singh to tackle the Dabhol power project imbroglio, will hold its first meeting on October 1, Union Power Minister P M Sayeed said on Wednesday.
The beleaguered Dabhol power plant will from October 1 start buying natural gas from Reliance Industries to cut electricity generation cost at the nation's largest gas-fired unit.
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