State-run Gujarat Power corporation (GPCL) today inked a share holder agreement (SHA) with Torrent Power (TPL) to develop a 1000 MW coal-based power plant at Pipavav.
The project to be set up with an initial investment of Rs 4,500 crore, will have a capacity of 1000 MW in the first phase and subsequently it will be raised to 2000 MW.
The project will be implemented through a special purpose vehicle (SPL) Torrent Pipavav Generation (TPGL) and the project will be commissioned by March 2012.
According to GPCL officials, 267.38 hectare private land has been acquired for the project while around 40.31 hectare of government land has has been transferred for the project.
GPCL has also carried out soil testing and obtained clearances for withdrawal of sea water.
The official added that other clearances are in the process.
