Torrent Power and Gujarat Power Corporation Ltd. (GPCL) have signed a Share Holders Agreement (SHA) for developing coal based power project at Amreli with an overall capacity to generate 2,000 Mw in a phase-wised manner.
GPCL is a nodal agency set up by the state government to promote power projects in the state.
The SHA was signed by D.J Pandian, chairman and managing director, GPCL and principal secretary, Energy & Petrochemcials Department and Sudhir Mehta, chairman, Torrent Power.
This project will involve an investment of about Rs 4500 crore for setting up 1,000 Mw in the first phase. The power generated will be utilised in the state, according to a release from Torrent.
The MoU for the project was signed during the Vibrant Gujarat Global Investors Summit 2007.
"For transferring this project, a special purpose vehicle (SPV) namely. Torrent Pipavav Generation Ltd. has been incorporated. The project will be implemented by March, 2012. Initially the project will have a capacity of 1000 MW which could be subsequently increased to 2000 MW," the release further stated.
For implementing the project, GPCL has already acquired about 267.38 hectares of private land and got transferred about 40.31 hectares of government land at village Rampara -2 and Uchaiya of Rajula taluka in Amreli district.
GPCL has also carried out soil investigations and other studies and obtained various clearances including permission for withdrawal of sea water and clearance from Airport Authority of India.