Financial closure of nine power projects with 10,000 Mw capacity by this fiscal

Financial closure in nine power projects, with a combined generation capacity of over 10,000 Mw, is likely in the current fiscal. This would be in addition to 11 power projects, with a capacity of almost 4,000 Mw, which have already achieved financial closure since January 2004.

"These projects should fructify during the 10th Five Year Plan. Since financial closure is expected by February 2005, we are expecting that at least those projects which are using gas as fuel, should get commissioned during the 10th Five Year Plan," a senior power ministry official said. Gas- based projects have a cycle time of two years.

Considering the present status of land acquisition, environment study and fuel linkages, it should be possible to concentrate on financial closure in October in case of the Nagarjuna-promoted, 1,015 Mw Mangalore project and in the 1,000 Mw Karcham Wangtoo hydro-electric power project in Himachal Pradesh, promoted by the Jaypee Karcham Hydro Corporation, officials added.

In November, the Indo-Gulf Fertilisers-promoted Singhrauli project for 1,000 Mw is likely to achieve financial closure.

Other projects targeted for financial closure in the current fiscal include the Essar-promoted 1,200 Mw Vadinagar gas-based power project in Gujarat, the 250 Mw Pathadi thermal power station in Chhattisgarh and the Allain Duhangan 200 Mw hydro-electric power station in Himachal Pradesh.

Reliance Energy's 3,740 Mw Dadri-based CCPP, Tata Power Company's 1,000 Mw coal- based project at Vile in Maharashtra and CLP Power's 1,050 Mw gas-based GPEC-II plant in Gujarat, are also expected to achieve financial closure before February 2005.