Gujarat Power Corporation Ltd (GPCL), owned by the Gujarat government, today inked a shareholder agreement (SHA) with Torrent Power Ltd (TPL) to develop a 1000-Mw coal-based power plant at Pipavav in Amreli district of Saurashtra region.
The project, to be set up at an initial investment of Rs 4,500 crore, will have a capacity of 1,000 Mw in the first phase, which will be subsequently raised to 2,000 Mw.
The project will be implemented through a special purpose vehicle (SPL), Torrent Pipavav Generation Ltd (TPGL), and commissioned by March 2012.
According to GPCL officials, 267.38 hectare private land has been acquired for the project.
GPCL has also carried out soil testing and obtained clearances for withdrawal of sea water.
The official added that other clearances were in the process.
The MoU was signed between the state government and TPL in Vibrant Gujarat Investors Summit in 2007.