Public sector undertaking NTPC today signed a power purchase agreement with Punjab State Power Corporation Ltd (PSPCL) for 2,640 MW coal-based thermal power project at Gidderbaha for Rs 15,000 crore.
The agreement was signed here by M K V Rao, Executive Director (Commercial) of NTPC and Arun K Verma, Director Distribution of Powercom (PSPCL) in the presence of Chairman Powercom K D Chaudhary.
It is after 40 years that Punjab has been able to get such a huge PSU investment in the state, an official spokesman said here.
The plant consists of four units of 660 MW each, which would be entirely funded by NTPC.
With the setting up of Gidderbaha Thermal Plant by NTPC, the work on five mega thermal plants at Talwandi Sabo, Goindwal, Rajpura, Mansa and Giddarbaha has been put on full throttle, he said.
The combined generation capacity of five plants is 10,590 MW being set up with an investment of Rs 52,800 crore.
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Besides this Punjab would get 2,272 MW share from the investment made by the State in ultra mega thermal plants set up outside the state, he said.
Besides, the Punjab Government has been able to secure 1966 MW capacity from the new plants being set up by the Central Government.
The spokesman said that 2,640 MW Gidderbaha power plant will be the biggest thermal power project in Punjab, which will help in developing ancillary industries and generate employment.
The Punjab Government has agreed to facilitate acquisition of land, issued notices in this regard, allocation of water and already conveyed an in-principle clearance for about 2,316 acres of land for the project, the spokesman said.
At least 50 per cent of the power from the plant shall be allocated to Punjab, he said.