Agreement signed between the Jharkhand Government and National Thermal Power Corporation (NTPC) for taking over the ailing Patratu Thermal Power Station (PTPS) has reached its final stages.
It is apprehended that the power plant of 840 MW capacities would be handed over to the Maharatna power major by November this year for revamp and future operation.
Now as per the Memorandum of Agreement (MoA) signed in May between State Government and NTPC, officials of Jharkhand Bijli Vitaran Nigam limited (JBVNl) are in the advanced stage of finalising the joint venture company named as Patratu Vidyut Utpadan Nigam limited (PVUNl).
"Terms and conditions in the MoA signed are being finalised along with the transfer scheme etc. NTPC on its part is earmarking the land with the PTPS. They are also conducting a geological survey of the existing plant site. Accounts are also in the final stages. With all the home works being done and expected to complete by the end of October, we are planning to handover PTPS to NTPC by November," Rahul Purwar, Managing Director of Jharkhand Bijli Vitaran Nigam limited (JBVNl) informed The Pioneer.
Against its generation capacity of 840 MW, the State owned power plant does not produce power more than 70-80 MW on regular basis.
Out of 10 units, not more than two units are functional at this stage which also often shut down in the want of maintenance.
This increases dependency of the State on power sources from outside coming in the form of central pool.
The joint venture is set to take the existing capacity of the PTPS from 840 MW to super critical power plant of 4000 MW in two phases - 3x800 MW and 2x800 MW, tentatively by 2024-25.
Performance of existing station would be improved from 15 per cent Plant load Factor to 82 per cent. Over 80 per cent of the power generated would come to Jharkhand's kitty.
The MD added that the task of setting up the joint venture company which is to be owned by the NTPC and the State Government on 74:26 basis would be set up in September itself.
"Work of the joint venture company PVUNl is in the advanced stages and by the start of next week the file would be moved. Then transfer of assets would be done which would take about a month," said Purwar on Wednesday.
However some sections of the employees of the PTPS are up in arms against the JV company alleging an unfair deal being done to the loss of the State. "PTPS owns huge assets and resources. It has its own captive coal block, water and land. Though, the ownership has been handed over to the NTPC without taking into consideration the facts," said Prashant Kumar Chaturvedi of an employees association.
PTPS existing employees are also apprehensive about terms and conditions of their service. Moreover the State Government has assured that their services would be safe as the NTPC has agreed to accommodate them all into the new company.