Private power producer TATA Power said that it would bid for ultra mega power projects only when the market conditions are favorable and the company would only bid for domestic coal based projects as import of the dry fuel is quite expensive.
Mr S Ramakrishnan ED of TATA Power told reporters "We would bid for the 4,000 MW ultra mega power projects only under two conditions. It should not be imported coal based project and the financial market should be good.”
He added that "We are already importing coal for the Mundra project. We are sourcing it from Indonesia where we have 30% stake in the coal blocks.”
As imported coal is expensive, Mr Ramakrishnan said that "We cannot go for another imported fuel based project, at least in the near future."
TATA Power is currently executing the 4,000 MW Mundra UMPP in Gujarat. Out of the five 800 MW units of the project, two (2x800 MW) are scheduled to come up during the current XIth Five Year Plan 2007-12 period. The project entails an investment of INR 17,000 crore and is being funded on a debt and equity ratio of 75:25.
(Sourced from http://www.steelguru.com/news/index/2009/09/24/MTEzMTcz/TATA_Power_to_bid_for_more_UMPP_when_market_is_good.html)
Thursday, September 24, 2009
TATA Power to bid for more UMPP when market is good
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