It seems that the Oil major, Oil & Natural Gas Corporation (ONGC) is planning to foray into hydro power projects by expanding the scope of ONGC-Tripura Power Company Ltd (OTPC).
ONGC Tripura Power Company Ltd is sponsored by Oil and Natural Gas Corporation (ONGC), Infrastructure Leasing and Financial Services Limited (IL&FS) and Government of Tripura (GoT) for implementation of 726.6 MW CCGT thermal power project at Palatana in Tripura to supply power to the power deficit areas of North Eastern states of the country. ONGC, IL&FS and GoT have entered into a Shareholders’ Agreement (SHA) on September 18, 2008 for subscribing to the equity of OTPC.
Current scope of OTPC include a 726.6 MW Combined Cycle Gas Turbine (CCGT) power plant close to the gas fields of ONGC in the state of Tripura along with an associated power transmission system from the project site to Bongaigaon in Assam.
The proposed foray into hydro power was indicated after a meeting between ONGC chief Sudhir Vasudeva and Uttarakhand chief minister Vijay Bahuguna here last evening.
As said by Mr. K S Jamestin, ONGC’s Director-Human Resource, ONGC is interested in developing small hydro projects which are run-of-the-river projects as well as environment-friendly. ONGC is considering for the expansion of OTPC and exploring the possibility of developing hydel projects in this regard.
After the meeting, Bahuguna asked the power department to prepare a blue print for all those power projects which has received clearances from the union ministry of forests and environment.
Faced with acute paucity of funds, Uttarakhand has been trying to attract private players in the hydropower sector by offering joint ventures with Uttarakhand Jal Vidyut Nigam, the state-run power generation company. The sector received a severe jolt after the Centre scrapped several big hydro projects including NTPC’s 600 MW Lohari Nagpala project on Bhagirathi river on environmental and religious grounds.
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