TANGEDCO signs PPA with NLC India for procuring 1500 MW power

A Power Purchase agreement for procuring 1500 MW power from Thermal Power Project at TALABIRA, Jharsuguda District in Odisha was signed between TANGEDCO and NLCIL in the presence of the Hon'ble Chief Minister of Tamil Nadu Thiru M.K Stalin.

The occasion was graced by Hon'ble Minister for Electricity, Prohibition and Excise, Tamil Nadu, Thiru. V. Senthil Balaji, Dr. Anil Kumar Jain, IAS, Secretary, Ministry of Coal, Govt. of India, Dr. V. Irai Anbu, IAS, Chief Secretary, Tamil Nadu, Shri Rajesh Lakhoni, IAS, CMD, TANGEDGO, Shri Ramesh Chand Meena, IAS, Additional Chief Secretary, Energy Department, Tamil Nadu, Shri Rakesh Kumar, CMD,NLC India Limited, and Shri Jaikumar Srinivasan, Director (Finance), NLC India Ltd.

The Agreement was signed by Shri Shaji John, Director (Power) on behalf of NLC tndia Ltd and Shri U.B.Eleni, Director (Generation) on behalf of TANGEDCO.

NLC India Limited, a Navratna PSU under the administrative control of Ministry of Coal, GoI, is in the process of setting up a thermal power Plant with a capacity of 2400 MW consisting of 3 Units of 80OMW super critical technology.

This will be a pithead captive thermal power project linked with NLCIL's Talabira II & III Mines of capacity 20 Million Tonnes per annum. The mines at Talabira has already started coal production. The power from this plant is expected to be one of the cheapest round the clock Power among Thermal Power Plants in the country with state of the art super critical Technology and environmental compliances.

During the event, Shri Rakesh Kumar, CMD, NLC India Limited and Chairman, NLC Tamil Nadu Power Limited along with Shri Shaji John, Director (Power), NLC India Ltd, Shri Jaikumar Srinivasan, Director (Finance), NLC India Ltd., presented a cheque of Rs.15.16 crore to the Hon'ble Chief Minister of Tamil Nadu Thiru M.K Stalin towards dividend payment in the presence of Thiru V. Senthil Balaji, Hon'ble Minister for Electricity, Prohibition and Excise, Tamil Nadu, Dr. Anil Kumar Jain, IAS, Secretary, Ministry of Coal, Govt of India, Dr. V.lrai Anbu, IAS, Chief Secretary, Tamil Nadu, Shri Rajesh Lakhoni, IAS, CMD, TANGEDCO, Shri. Ramesh Chand Meena, IAS, Additional Chief Secretary, Energy Department, Tamil Nadu and other Senior Officials.

NLC Tamitnadu Power Limited, is a Joint Venture Company of NLC India Limited and TANGEDCO with an installed capacity of 1000 MW Thermal Power Plant at Tuticorin, Tamil Nadu was commissioned in 2015-16. The Company has declared 7% Interim Dividend on the Paid up share capital for the Financial Year 2021-22.

Shares of NLC India Limited was last trading in BSE at Rs. 62.60 as compared to the previous close of Rs. 62.55. The total number of shares traded during the day was 437454 in over 6880 trades.

The stock hit an intraday high of Rs. 63.90 and intraday low of 62.20. The net turnover during the day was Rs. 27522303.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 TANGEDCO PPA 1500MW ThermalPower Talabira Jharsuguda Odisha