State-run NHPC today said it has signed an agreement for executing 1,320 MW thermal power project at Bhagalpur in Bihar.
The memorandum of understanding (MoU) was signed amongst Bihar State Power Generation Company, NHPC and Pirpainti Bijlee Company for development of 1,320 MW ((2x660 MW) Pirpainti Supercritical Thermal Power Project in Bhagalpur District in Bihar, NHPC said in a statement.
NHPC and Bihar State Power Generation Company will develop the project through a joint venture namely Pirpainti Bijlee Company.
The equity share of NHPC and Bihar State Power Generation Company in the JV shall be 74 per cent and 26 per cent respectively, the statement said.
As much as 85 per cent of the electricity generated from the project is to be absorbed by state discoms as per the power purchase agreement (PPA).
This is the second thermal power project of NHPC after 1,320 MW Salka Thermal Power Project in Chhattisgarh.
NHPC, country's largest hydro power producer, is also engaged in the construction of seven hydel projects aggregating to a total installed capacity of 4,095 MW.
