With coal being the prime concern for the majority of power generating companies in the country at present the issue also came into discussion in the pre-application meeting for Patratu Thermal Power Station (PTPS) of proposed 660x2 MW capacity. Though, the Patratu Energy limited, the special purpose vehicle (SPV) made particularly for facilitating all the necessary environmental and forest clearances, is there the investors expressed apprehensions over delay from the Centre.
Representatives of Tata Power, Adani, Essar, Jindal Power and Steel, Dalmia, Moserbaer and various other private power companies put their questions before Energy Secretary VK Singh and also Power Finance Corporation Consulting limited in the Thursday meeting that would be followed by applications for building the super critical power station at
Patratu with estimated cost of Rs8,500 crore.
“In present scenario companies are getting environment and forest clearances in 8-9 years! It is very dicey in case it gets delayed. It gets lots of investment in any such project,” said Vipulkumar Jadav, Associate Genral Manager of Adani Power limited.
Companies were also particular about conditions to purchase desired equipments form within the country. Also the bidding norm has been relaxed making entry possible for players even outside the power sector though with Rs 12,750 crore net worth. The promoter would also be given liberty to sell power to any third party with certain percentage of profit sharing with the JSEB.
However, the promoters tried their best to pacify the power majors. “We have the required land, water and allocated Banhardih coal block with 920 MT reserve with us. I can understand their apprehensions. But I can assure from the part of State Government that we would ensure clearances those are to be given from State level, facilitate the company in getting all necessary licenses and also push for central level clearances. We need power and they need return of their money invested as soon as possible and I think both of us can resolve the issues coming in,” said VK Singh.
As per the proposal the SPV, fully owned and operated by JSEB, would provide land and water already available with PTPS. The Coal Ministry has already allocated Banhardih coal mine for which clearance from MoEF would have be sought. The JSEB is also assuring 100 per cent power purchase and making available debt guarantee in case the project gets derailed. 21 companies took part in the pre-application meeting.
Talking about rate of power purchase, the Secretary said that after technical and financial bidding the shortlisted companies would quote rate of power to be made available to the JSEB and the company offering lowest rate would be selected for developing the plant on ‘design-build-finance-operate-transfer’ basis.
As per 2012 figures Jharkhand has 7.2 per cent shortage of peak time demand that has gone up to 1263 MW. There are several upcoming power plants by private companies in the State but awaiting the required clearances. Through the PEl, the Government has initiated to rope in private players to refurbish its own plants those are performing below its optimum level. Similar project is also proposed at Bhawnathpur of Garhwa district on the closed down site of SAIl.