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Tayal Energy inks deal for power plant

Signs MoU with GAIL, Haryana power company for setting up a 400mw gas-based power plant

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Gayatri Ramanathan Mumbai
Mumbai-based Tayal Energy Ltd has signed a memorandum of understanding (MoU) with the Gas Authority of India Ltd (GAIL) and Haryana Power Generation Corporation Ltd (HPGCL) for setting up a 400 megawatt (mv) gas-based power plant at Panipat in Haryana. Haryana expects a power deficit of 5500 mw by next summer.
 
The project, to be set up at cost of Rs 1,350 crore, is expected to come up by 2008. Tayal Energy is a joint venture between KSL & Industries, Mumbai and R H Group of companies, Chandigarh. This is the company's first foray into power generation.
 
Tayal Energy director Dharinder Tayal said the company was already in talks with the state government to expand the Panipat plant capacity to 1000 mw by 2010.
 
"We are right now in discussions with the Haryana government to work out the expansion plan - whether it will come in two phases of 300 mw each or just a single phase of 600 mw," said Tayal.
 
Tayal said the company along with other Independent Power Producers in the state such as Torrent, Jindal, Tata Power and Wiesman, had formed a consortium to scout for gas for its Panipat project.
 
The company is also bidding for ten small hydro projects in Uttranchal, with varying capacities. The biggest of the plants will generate 63 mw. "We will be submitting financial bids for these ten projects soon," said Tayal.
 
The company is also bidding for some hydro projects in Himachal Pradesh. It has targeted an energy production capacity of 5000 mv by 2010 end and is also seriously considering other non-conventional energy sources such as wind farms, Tayal said. The company also plans to get into power transmission at later stage, he said.

 
 

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First Published: Dec 30 2005 | 12:00 AM IST

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