Gayatri Projects' arm executes PPA for 1320 MW power plant

Gayatri Projects Ltd today said its subsidiary has executed power purchase agreement (PPA) with Andhra Pradesh government for its 1,320 MW power plant in the state.

"The company's subsidiary TPCIL has executed a Power Purchase Agreement with Andhra Pradesh Power Distribution Companies, wholly-owned by the government of Andhra Pradesh, for supply of 500 MW of competitive power to the Central, Eastern, Southern and Northern Power Distribution Companies of Andhra Pradesh for a period of 25 years," the company said in a filing to BSE.

Thermal Powertech Corporation India Ltd (TPCIL) is a joint venture between Hyderabad-based Gayatri Energy Venture Pvt Ltd (GEVPL), a wholly-owned subsidiary of Gayatri Projects, and Singapore-based Sembcorp Utilities.

According to the company, the plant, located in Krishnapatnam, will assist in mitigating power shortage in the Andhra Pradesh, when it commences operation.

"This green field project within the state makes the transmission more convenient and the use of super critical technology is a value addition as this technology enhances efficiency, thereby reducing emission of carbon dioxide and other pollutants, making it more eco-friendly," the statement added.