Kannur power project gets Techno Economic Clearance

Vol 4, PW 2 (01 Mar 00) News in Brief

India's Central Electricity Authority (CEA) has granted Techno Economic Clearance to the troubled 513-MW power project at Kannur.

On 21st February, a CEA statement said the combined cycle project - promoted by the KPP Nambiar Group - would switch to LNG from naphtha when available from Petronet-LNG. The project cost is Rs1,470cr ($342.5m), and the debt equity ratio 70:30.

The equity component includes $77m from Nambiar promoted Mauritius affiliate Koretech Corporation. Communist authorities in Kerala refused to approve Enron's participation, thus forcing a delay in clearance.

The project - in Kalliasseri and Pappinissery regions of Kerala - will use three gas turbines of 112-MW and a steam turbine of 117-MW, and work on a Plant Load Factor of 68.49.