Techno Electric and Engineering Company today said its joint venture with Kalpataru Power Transmission has commissioned the 400 KV intra-state power transmission project worth Rs 444 crore in Haryana.
The project has been commissioned in 16 months from the date of financial closure by Jhajjar KT Transco -- a 51:49 joint venture between Kalpataru Power Transmission and Techno Electric. It was commissioned on March 12.
"The Rs 444 crore project has been financed through a mix of debt and equity. Debt at Rs 276 crore and the combined equity of Rs 76 crore was put in by both joint venture partners," Techno Electric said in a statement.
Further, a grant of Rs 92 crore has been extended by the central government. "The project will ensure a sustainable income flow of Rs 4.5 crore to the company as a unitary charge payable per month," it added.
The 400 KV Transmission System comprises Double Circuit Quad Moose Line extending from Jharli to Kabulpur, Rohtak (35 km) and Kabulpur to Dipalpur, Sonepat (64 km) with two sub-stations of 400/220 KV of 24 Bays each at Rohtak and Sonepat.
"The Transmission Network is designed to facilitate evacuation of 2400 MW of power and will initially transmit 1,320 MW (2x660 MW) of power from Jhajjar Power Plant in Haryana," the statement said.
Haryana Vidyut Prasaran Nigam awarded the project in May 2010 by on a design, build, finance, operator transfer (DBFOT) basis.