The cost of the 100 MW gas based power project in Monarchak, in Tripura, being implemented by North Eastern Electric Power Corporation (Neepco), has been revised to Rs. 623.44 crore by the Cabinet Committee on Economic Affairs (CCEA).
The project will be completed with a debt-equity ratio of 70:30, stated an official press release. While the equity portion shall be met through Neepco's internal resources, the debt portion will be arranged through commercial borrowings.
The project is expected to be commissioned in July, 2013.
“The power generated from the project will be supplied to Tripura. The project would contribute to the economic development of the State by providing 100 MW power and direct and indirect employment to the local population,” the release stated. As the project will be a ‘combined cycle power station’ by using natural gas, it would be of high efficiency and will also be environmentally compatible, with negligible emission, the release added.
This project is expected to mitigate the problem of power shortage in the North-Eastern Region and the consequent need for import of power particularly during the winter seasons, besides improving the hydro-thermal mix in the region.