GCEL has signed BTG Contract with M/s Doosan Projects India Pvt Ltd. The Project has achieved Financial close on Dec 10, 2010 and has tied up the entire debt requirement of the total Project Cost. The land acquisition for the Main Plant has been completed. Power Purchase Agreement has been signed with Chhattisgarh State Electricity Board on January 05, 2011 for sale of 35% Power generated. Ministry of Environment & Forest (MoEF) issued the Environmental Clearance on 9th May, 2011.
In September 2010, GMR Energy Limited was selected as the successful bidder in the tariff-based competitive bidding process conducted by RRVPNL, for providing transmission services with regard to the following projects:
- to build, own, operate and maintain "BOOM" 400 kV S/C Bikaner-Deedwana-Ajmer lines with 400 kV/220 kV GCC at Deedwana and Associated Schemes/Works that will span 264 kilometers in length; and
- To build, own, operate and maintain "BOOM" 400 kV S/C Hindaun-Alwar line with 400 kV GSS at Alwar and Associated Schemes/Works that will span 85 kilometers in length.
The construction is being done by wholly-owned ssubsidiaries, Maru Transmission Services Company Limited ("MTSCL") and Aravali Transmission Service Company Limited ("ATSCL") on a BOOM basis for 25 years from the commissioning date. MTSCL and ATSCL will continue to own the Transmission Assets beyond the concession period of 25 years. The two subsidiaries have entered into Transmission Service Agreements with Jaipur,Ajmer& Jodhpur Discoms to provide transmission services on a long-term basis. We expect these projects to be commissioned in Fiscal 2014, and we will operate and maintain these transmission Assets for the next 25 years as per the Transmission Service Agreements from the date of commissioning.
We have entered into EPC contracts with M/s Larsen and Toubro Limited for construction of these transmission Assets, including the transmission lines and substations, on a lump sum and turnkey basis. The financial closure for both the projects has been achieved.