Tata Power's Uttaranchal project

The Hindu, Friday, Oct 24, 2003

MUMBAI OCT. 23. Tata Power Company has announced that it will put up a 330 MW Shrinagar hydro power project in Uttaranchal. The Rs. 1,650-crore project would be funded by a 70:30 debt equity ratio. The power plant will significantly augment electricity supply to the northern region. The company also recently initiated construction of a 120 MW thermal power plant at Jojobera in Jharkhand at a project cost of Rs. 350 crores. The total installed capacity at the plant will increase to 427.5 MW. The power plant will be fully operational in a record period of 24 months by October 2005.

TPC is approaching the regulatory commissions for the grant of second distribution licenses in select areas and also various State electricity boards (SEBs) under the franchisee scheme of the Electricity Act 2003. TPC is also setting up a new company for undertaking trading of power and approaching the CERC for grant of a licence. Firdose Vandrevala, Managing Director, TPC, said, "The organisational transformation in establishing Tata Power as a national player has begun to take clearly defined shape. The ongoing process involved in reducing cost and enhancing reliability have started to yield tangible and encouraging results.''