Rosa Power Supply Company signs Power Purchase Agreement and Supplemental Implementation Agreement for 600 MW Project
Lucknow, November 12, 2006: Rosa Power Supply Company Ltd and the Uttar Pradesh Power Corporation Limited today signed a Power Purchase Agreement (PPA) for supply of power from 600 MW Rosa Power Project to be set at Shahjahanpur, UP. The Supplemental Implementation Agreement, (SIA) for the project was also signed today by the Principal Secretary (Energy), on behalf of Government of Uttar Pradesh. The Group will now set up the project subsequent to its take over of Rosa Power Supply Company recently.
Mr. Anil D Ambani, group chairman, who was present at the event, said “We are committed to playing a major role in the energy sector. We will continuously seek opportunities and undertake projects to maintain our position as the largest private player in the sector. We are delighted to participate in the development of Uttar Pradesh.”
The project, with an initial capacity of 600 MW, will generate about 450 crore units annually. The total investment in the project will be Rs 2641 crore.
The project will be based on coal for which the Ministry of Coal, Government of India, has granted a long-term coal supply linkage. The Coal would be supplied from Ashoka Mine in Jharkhand, an existing mine of Central Coalfields, a subsidiary of Coal India. The Railway Board has also approved the Coal transportation Agreement for transportation of coal from the mine to the Project site.
The water requirement of the project shall be catered to by Garrah river, which flows about a kilometer to the west of the project site. Water Use Agreement for the Project was also signed today with Government of Uttar Pradesh.
The construction at the project site is ready to take off as all the required clearances and approvals have been obtained from the Uttar Pradesh Electricity Regulatory Commission (UPERC), Government of Uttar Pradesh, Ministry of Environment & Forest, Government of India, and other statutory bodies. The Land for the Project has already been acquired by UPSIDC and will be transferred to the company very soon. The project is expected to start generation from March 2010.
The Project will substantially improve the electricity supply condition in Central & Western Uttar Pradesh and provide significant impetus to industrial growth. In addition, it will create avenues for employment in the state. The project will also yield a fair amount of fly ash, which can be used as raw material in local brickfields and cement manufacturing units.
Uttar Pradesh Electricity Regulatory Commission has approved the PPA signed today as well as the Project Cost for determination of tariff, which is in line with the regulations formed by the Commission in 2005.
For further information, please contact:
Avinash Jain
PH: 9335903550 / 9415142090
