Simhapuri Energy Pvt.Ltd, a
subsidiary of Madhucon
Projects Ltd, has begun
commercial operations
from Unit-2 of its coal-fired power
plant at Nellore, Andhra Pradesh.
With this two units of 150-MW
have been commissioned. Unit-1
was commissioned in early May
this year.
Hyderabad-based Madhucon is
investing
11,270 crore in setting
up the Nellore plant with total
capacity of 1,920 MW. Phase-II,
also of 300 MW, is likely to begin
operations by December this year.
Of the total power generated, 70
per cent will be supplied to Power
Trading Corporation under tolling
agreement and the balance power
will be sold on merchant basis.
The company has long-term
imported coal supply pact for the
plant located close to the Krishnapatnam
port. Coal will be mainly
sourced from Indonesia. To this
effect, PT Madhucon Indonesia,
the company's overseas subsidiary,
has acquired rights to
develop three coal mines. These
are expected to yield 25,000
tonnes per month.
The project is being implemented
in three phases of phase-I
(2x135 MW), phase-II (2x150
MW) and phase-III (2x660 MW)
each. The cost of the project of
phase-I is estimated at
1,336.50
crore to be funded by equity contribution
of
334.10 crore and balance
by term loan of
1,002.40
crore.