Ultra Mega Power Projects
Four Ultra Mega Power Projects (UMPPs) have been awarded so far. Mundra UMPP has been awarded to M/s Tata Power Limited and Sasan, Krishnapatnam and Tilaiya UMPPs have been awarded to M/s Reliance Power Limited. As per Central Electricity Authority (CEA), construction work at two UMPPs namely Mundra and Sasan have already been started. For third UMPP at Krishnapatnam preliminary works have already been taken by the developer at site. For the fourth UMPP which was transferred to the developer on 7th August, 2009, first stage forest clearance has already been received for project land.
The project specific SPVs are created as a wholly owned subsidiaries of Power Finance Corporation (PFC), the nodal agency for this initiative. Special Purpose Vehicle (SPV) obtains various clearances, water linkage, coal mine allocation (for domestic coal based projects) etc. for the project. The SPV also initiates action for land acquisition in the name of the SPV, selects the developer through a tariff based competitive bidding process and finally transfers the SPV to the identified developer along with the various clearances, tie ups, etc.
One of the functional Directors of PFC is the part-time Chairman of the SPV and other part-time Directors of the SPV are nominees of PFC. Further, for the UMPPs which are at advance pre-bidding stage, the representatives from top three power procuring States are also there in the board as part-time Directors.
This information was given by Shri Bharatsinh Solanki, Minister of State for Power in a written reply in Rajya Sabha today.
Four Ultra Mega Power Projects (UMPPs) have been awarded so far. Mundra UMPP has been awarded to M/s Tata Power Limited and Sasan, Krishnapatnam and Tilaiya UMPPs have been awarded to M/s Reliance Power Limited. As per Central Electricity Authority (CEA), construction work at two UMPPs namely Mundra and Sasan have already been started. For third UMPP at Krishnapatnam preliminary works have already been taken by the developer at site. For the fourth UMPP which was transferred to the developer on 7th August, 2009, first stage forest clearance has already been received for project land.
The project specific SPVs are created as a wholly owned subsidiaries of Power Finance Corporation (PFC), the nodal agency for this initiative. Special Purpose Vehicle (SPV) obtains various clearances, water linkage, coal mine allocation (for domestic coal based projects) etc. for the project. The SPV also initiates action for land acquisition in the name of the SPV, selects the developer through a tariff based competitive bidding process and finally transfers the SPV to the identified developer along with the various clearances, tie ups, etc.
One of the functional Directors of PFC is the part-time Chairman of the SPV and other part-time Directors of the SPV are nominees of PFC. Further, for the UMPPs which are at advance pre-bidding stage, the representatives from top three power procuring States are also there in the board as part-time Directors.
This information was given by Shri Bharatsinh Solanki, Minister of State for Power in a written reply in Rajya Sabha today.
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