Hindustan Powerprojects announced on Friday it has commissioned the first 600 MW unit of its Anuppur thermal power plant in Madhya Pradesh, saying the company will take lead when the power sector goes on the upswing from 2016.
"Hindustan Powerprojects successfully achieved COD of unit-I (600 MW) of the first phase of its flagship 2520 MW Anuppur thermal power project in Madhya Pradesh," the company said in a statement here.
The first phase of the project has been commissioned at a cost of Rs.8,000 crore, it said.
"The power sector is set for an uptake again starting 2016. So far there has been a down-cycle. Hence it is the right time to start the project," said chairman Ratul Puri.
The company has signed power purchase agreements with both the Madhya Pradesh and Uttar Pradesh governments. It will sell power to UP at levelised tariff of Rs 5.70 per unit and to MP at Rs 4.5 per unit annual escalation as and when notified by the regulator.
The total capacity of the Anuppur thermal plant is 2,520 MW - to be developed in two phases of 1,200 MW (2x600 MW) and 1,320 MW (2x660 MW).
The projects sources coal through a fuel supply agreement with the South Eastern Coalfields.
"Performance of Coal India has been good. The supply chain has improved with efficient railways, siding capacity and easier environmental clearance," Puri said.
