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By Uday Nayar
Sasan UMPP, which is being developed by Reliance Power is advancing at a high pace with the first unit expected to be commissioned by January 2013, four months ahead of its PPA schedule, May 2013. The project will generate approximately 22.5 mn CERs for the first 10 years of operation with the expected incremental revenue from the sale of CERs of over Rs 2,000 crore.
Chandrashekhar Modi updates on the progress of the project.
Reliance Power's Sasan UMPP is a 3,960 MW (6 units of 660 MW each) super-critical technology based pit-head coal-fired power generating plant at Sasan, in Madhya Pradesh, India. This is the first one of the three UMPPs awarded to Reliance Power after the Anil Ambani group firm matched the tariff bid of original winner Lanco Infratech. It involves development of associated captive coal mines allotted to the company, which ensures fuel security. Sasan Power has entered into a 25-year Power Purchase Agreement (PPA) with off-takers of power for its entire capacity at a competitive tariff of Rs1.19 per kWh. The project would supply power to 14 off-takers in seven states benefitting over Rs 35 crore Indians. The estimated project cost of the project (excluding coal mines) is about Rs 16,000 crore. The project is assumed to be commissioned in January 2013.
The first unit of 660 MW of the Sasan project in Madhya Pradesh would be coming up ahead of its Power Purchase Agreement (PPA) schedule.
"We are happy with the rapid progress being achieved at the site and are confident of bringing the project much ahead of original PPA schedule with the first unit starting in Jan 2013," said a senior official." Sasan, with its landmark tariff of Rs 1.19 per kWh, will benefit power consumers in seven states due to its early commissioning" he added.
As per the PPA agreement, the first unit has to be ready by May 2013. According to the company, the six units of 660 MW each would be commissioned by June 2014.
Qualified for carbon credits
Reliance Power recently announced that the Sasan UMPP using super-critical technology has been registered with Clean Development Mechanism Executive Board (CDM-EB) of United Nations Framework Convention on Climate Change (UNFCCC). The registration with CDM-EB allows Sasan Project to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and will result in significant additional revenues for the super-critical ultra mega power project. The project will generate approximately 22.5 million CERs for the initial 10 years of operation with the expected incremental revenue from the sale of CERs of over Rs 2,000 crore. The project is the first Ultra Mega Power Project from India to be registered with the CDM-EB.
It is also the world's largest power generation plant ever registered with the CDM-EB under Clean Development Mechanism (CDM) framework since its inception. The project was granted host country approval by Ministry of Environment & Forests, Government of India (MOEF) in 2009 affirming that the project contributes to sustainable development in India.
Project awarded:
Sasan Power (SPL) was incorporated on February 10, 2006. The company was incorporated as a wholly owned subsidiary of Power Finance Corporation in order to build, own, operate and maintain (BOOM) the Sasan Ultra Mega Power Project at Sasan, Madhya Pradesh. It was transferred to Reliance Power under the provisions of a share purchase agreement dated August 7, 2007 and is now a fully owned subsidiary of Reliance Power.
Project execution:
The project has been allocated three captive coal blocks, Moher, Moher-Amlohri extension and Chhatrasal, with total coal reserves of over 700 mn tonnes, to meet its fuel requirements. The first unit of the project will be commissioned by March 2012 and subsequent units will be commissioned at a gap of 3 months each. The contracts for Engineering, Procurement and Construction (EPC) and Boiler, Turbine and Generator (BTG) have been awarded. The construction activities are in progress at site. Construction of Resettlement and Rehabilitation (R&R) colony has been completed and project affected families have shifted to the R&R colony. The company has sought the intervention of the coal minister, Sriprakash Jaiswal, for making the Chhatrasal block available for reliable coal supply to the project. The Chhatrasal coal block is one of the captive coal blocks. However, as Chhatrasal is a designated 'No-Go' block, Reliance has not been able to get clearance.
Project finance:
Sasan project is estimated to cost around Rs 19,400 crore ($4.3 bn), with financing by an equity contribution of Rs 5,400 crore ($1.2 bn) and term loans to the tune of Rs 13,900 crore ($3.1 bn).
The project has received final commitments for term loans of more than Rs 5,000 crore ($1.1 bn) from Chinese banks. Sasan's financing is unique with both US Exim Bank and Chinese Banks joining the Indian lenders for financing the project. The financing not only ensures competitive rates, but also helps in reducing foreign exchange risks and equipment performance risk, according to a company official.
Project benefits:
Power generated from Sasan will be supplied to 7 states - Madhya Pradesh (1500 MW), Punjab (600 MW), Uttar Pradesh (500 MW), Delhi & Haryana (450 MW each), Rajasthan (400 MW) and Uttarakhand (100 MW).
http://www.constructionupdate.com/News.aspx?nId=O+LYCAEZA2fpjs8sfrl36A==&NewsType=Sasan-project-to-be-commissioned-four-months-ahead-of-schedule-India-Sec
Chandrashekhar Modi updates on the progress of the project.
Reliance Power's Sasan UMPP is a 3,960 MW (6 units of 660 MW each) super-critical technology based pit-head coal-fired power generating plant at Sasan, in Madhya Pradesh, India. This is the first one of the three UMPPs awarded to Reliance Power after the Anil Ambani group firm matched the tariff bid of original winner Lanco Infratech. It involves development of associated captive coal mines allotted to the company, which ensures fuel security. Sasan Power has entered into a 25-year Power Purchase Agreement (PPA) with off-takers of power for its entire capacity at a competitive tariff of Rs1.19 per kWh. The project would supply power to 14 off-takers in seven states benefitting over Rs 35 crore Indians. The estimated project cost of the project (excluding coal mines) is about Rs 16,000 crore. The project is assumed to be commissioned in January 2013.
The first unit of 660 MW of the Sasan project in Madhya Pradesh would be coming up ahead of its Power Purchase Agreement (PPA) schedule.
"We are happy with the rapid progress being achieved at the site and are confident of bringing the project much ahead of original PPA schedule with the first unit starting in Jan 2013," said a senior official." Sasan, with its landmark tariff of Rs 1.19 per kWh, will benefit power consumers in seven states due to its early commissioning" he added.
As per the PPA agreement, the first unit has to be ready by May 2013. According to the company, the six units of 660 MW each would be commissioned by June 2014.
Qualified for carbon credits
Reliance Power recently announced that the Sasan UMPP using super-critical technology has been registered with Clean Development Mechanism Executive Board (CDM-EB) of United Nations Framework Convention on Climate Change (UNFCCC). The registration with CDM-EB allows Sasan Project to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and will result in significant additional revenues for the super-critical ultra mega power project. The project will generate approximately 22.5 million CERs for the initial 10 years of operation with the expected incremental revenue from the sale of CERs of over Rs 2,000 crore. The project is the first Ultra Mega Power Project from India to be registered with the CDM-EB.
It is also the world's largest power generation plant ever registered with the CDM-EB under Clean Development Mechanism (CDM) framework since its inception. The project was granted host country approval by Ministry of Environment & Forests, Government of India (MOEF) in 2009 affirming that the project contributes to sustainable development in India.
Project awarded:
Sasan Power (SPL) was incorporated on February 10, 2006. The company was incorporated as a wholly owned subsidiary of Power Finance Corporation in order to build, own, operate and maintain (BOOM) the Sasan Ultra Mega Power Project at Sasan, Madhya Pradesh. It was transferred to Reliance Power under the provisions of a share purchase agreement dated August 7, 2007 and is now a fully owned subsidiary of Reliance Power.
Project execution:
The project has been allocated three captive coal blocks, Moher, Moher-Amlohri extension and Chhatrasal, with total coal reserves of over 700 mn tonnes, to meet its fuel requirements. The first unit of the project will be commissioned by March 2012 and subsequent units will be commissioned at a gap of 3 months each. The contracts for Engineering, Procurement and Construction (EPC) and Boiler, Turbine and Generator (BTG) have been awarded. The construction activities are in progress at site. Construction of Resettlement and Rehabilitation (R&R) colony has been completed and project affected families have shifted to the R&R colony. The company has sought the intervention of the coal minister, Sriprakash Jaiswal, for making the Chhatrasal block available for reliable coal supply to the project. The Chhatrasal coal block is one of the captive coal blocks. However, as Chhatrasal is a designated 'No-Go' block, Reliance has not been able to get clearance.
Project finance:
Sasan project is estimated to cost around Rs 19,400 crore ($4.3 bn), with financing by an equity contribution of Rs 5,400 crore ($1.2 bn) and term loans to the tune of Rs 13,900 crore ($3.1 bn).
The project has received final commitments for term loans of more than Rs 5,000 crore ($1.1 bn) from Chinese banks. Sasan's financing is unique with both US Exim Bank and Chinese Banks joining the Indian lenders for financing the project. The financing not only ensures competitive rates, but also helps in reducing foreign exchange risks and equipment performance risk, according to a company official.
Project benefits:
Power generated from Sasan will be supplied to 7 states - Madhya Pradesh (1500 MW), Punjab (600 MW), Uttar Pradesh (500 MW), Delhi & Haryana (450 MW each), Rajasthan (400 MW) and Uttarakhand (100 MW).
http://www.constructionupdate.com/News.aspx?nId=O+LYCAEZA2fpjs8sfrl36A==&NewsType=Sasan-project-to-be-commissioned-four-months-ahead-of-schedule-India-Sec
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