KU Projects Ltd, a 100 per cent subsidiary of Hyderabad-based Ind-Barath Power Infra Pvt Ltd (IBPIL), is set to sign a Memorandum of Understanding (MoU) with the Orissa government on Monday for setting up its 1320 MW (2x660) power plant at Pitamohul in Sonepur district at a cost of Rs 7260 crore.
Similarly, Ind-Barath Energy Utkal Ltd, also a 100 per cent subsidiary of IBPIL will enter into an MoU with the state government for setting up a new 660 MW super critical unit at Sahajbahal near Jharsuguda. Ind-Barath Energy Utkal Ltd is already setting up a 750 MW power plant at the site.
The 1320 MW Independent Power Plant of KU Projects as well as the proposed 660 MW unit of Ind-Barath Energy Utkal Ltd have already got the nod of the High Level Clearance Authority chaired by the state Chief Minister Naveen Patnaik.
“We are going to sign MoUs with the state government for the 1320 MW IPP of KU Projects and the 660 MW unit of Ind-Barath Energy Utkal Ltd on Monday. We have already identified around 800 acres of land needed for the 1320 MW IPP and we'll be acquiring land on our own”, said Muralidhar Mishra, senior vice president of Ind-Barath Energy Utkal Ltd and KU Projects Ltd.
The 1320 MW IPP needs 820 acres of land in all and 95 per cent of the land is private land.
"The company has prepared the 'Terms of Reference' for the 1320 MW IPP. We have sought coal linkage and the Central Electricity Authority has recommended our case to the Union ministry of coal”, said Mishra.
The first unit (660 MW) of the 1320 MW IPP of KU Projects is set to be operational by December 2012 while the first unit of Ind-Barath Energy Utkal's project will go on stream from November 2011.
For the power plant of Ind-Barath Energy Utkal, the company hopes to sign Fuel Supply Agreement with Mahanadi Coalfields Ltd (MCL) soon for supply of linked coal.
Meanwhile, KU Projects signed a Power Purchase Agreement with Grid Corporation of Orissa Ltd (Gridco) on Friday for purchase of power from its proposed 1320 MW IPP. The PPA was signed between Muralidhar Mishra, senior vice president, KU Projects Ltd and A C Mallick director (commercial), Gridco. According to the pact, Ind-Barath will provide 158 MW to the state grid.
