Torrent Power's plants to get gas subsidy

Torrent Power today said its gas-based power plants will get government subsidy on use of re-gasified liquefied natural gas (RLNG) for six months from October to March.
"Sugen Mega CCPP (capacity 1147.5 MW), UNOSUGEN CCPP (capacity 382.5 MW) of Torrent Power Ltd (TPL) and DGEN Mega CCPP of TPL's wholly-owned subsidiary Torrent Energy Ltd (TEL) (capacity 1,200 MW) have been awarded letter of award for allocation of gas covering a period of six months from October 1, 2015 to March 31, 2016," the company said in a regulatory filing.
These plants emerged as successful bidders through highly competitive and transparent online reverse auction process organised by the power ministry, it said.

SUGEN project was categorised as plant receiving some domestic gas and operating at lower plant load factor (PLF), while UNOSUGEN and DGEN plants were categorised as stranded projects, it said.
"The award will enable SUGEN project to run on an average at least approximately 35 per cent PLF from the base level of approximately 25.60 per cent PLF, while it will also enable UNOSUGEN and DGEN projects to run on an average at least approximately 25.5 per cent PLF," it said.
Based on the award, UNOSUGEN and DGEN projects would be entitled to subsidy support of 1.44 per kWh and SUGEN project would be entitled to subsidy support of 1.94 per kWh, it said.

The maximum price of electricity that may be charged by DGEN and UNOSUGEN projects is Rs 4.70 per kWh and by SUGEN is Rs 3.39 per kWh, it added.
The allocation of gas is per the programme for gas auction finalised by power ministry for gas supply to stranded plants and plants receiving some domestic gas for FY 2015-16 and FY 2016-17, of which the current auction covers a period of six months from October 1, 2015.