M W Corp Group-promoted Shree Maheshwar Hydel Power Corporation (SMHPCL), the first private sector power initiative in Madhya Pradesh, is likely to start electricity generation within the next 2-3 months, a top official said today.
"The 400-Mw project on the River Narmada is ready and is likely to start in 2-3 months after getting clearance from the concerned ministry," M W Corp Vice-Chairman Warij Kasliwal told reporters here.
Initially, three turbine sets comprising 10 turbine units of 40 Mw each will become operational, he said, adding that this is the first big private venture in the hydel power sector in Madhya Pradesh and will cost about Rs 2,600 crore.
Under the agreement signed between SMHPDL and the Madhya Pradesh State Electricity Board, the state will get 100 per cent of the electricity generated from this project.
Kasliwal, who is in Italy as part of FICCI's CEOs delegation, led by Commerce and Industry Minister Anand Sharma, has talked to a few Italian solar energy companies for a technology partnership on its new solar project in Rajasthan.
He said, "We have got two solar projects of 1 Mw and 10 Mw each in Rajasthan. We have signed the power purchase agreement (PPA) and announcement needs to be done."
"We require an investment of Rs 400 crore for solar project in Rajasthan. We are still looking at having a tie-up for funds and technology tie-up," he said, adding that the project will commence in a year's time.
