GMR Energy today announced that two of its gas based plants - GMR Vemagiri Power Generation Limited (GVPGL) and GMR Rajahmundry Energy Limited (GREL) - in Andhra Pradesh have been awarded allocation of gas through a fresh round of e-bidding conducted by the Government of India, on 15th September, 2015. This was the second round of bidding under the “Scheme for Utilization of Stranded Gas based power Plants”, launched by GoI in March 2015.
These two plants, with total capacity of 1138 MW, now can operate over the next six months starting October, 2015 at equivalent to 50% Plant Load Factor (PLF) - up from 25% PLF in the previous round.
Commenting on the development, a GMR Energy spokesperson, said
: “We are happy to receive gas, which will help rationalize the power tariff and improve the power supply scenario of the state.”
With the current allocation of gas, operations will continue till March, 2016 and thereafter Government of India will call for a fresh round of bidding. The scheme envisages Government subsidies from the Power System Development Fund (PSDF) through a transparent e-bidding process.
The government will subsidize the power distribution companies to the extent of Rs. 1.44 per unit from the PSDF for the power procured from these two plants.
GMR Energy has a portfolio of 3000 MW of coal based assets and 1350 MW of Gas based assets. Besides this, it also operates 25 MW solar plant and is in the process of developing hydro portfolio of about 2000 MW.
About GMR Infrastructure Limited:
GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure. The group has fifteen power generation projects of which ten are operational and five are under development; nine operating road assets and a double rail track line between Mughalsarai-New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor under development.
GMR Group developed and operates India’s busiest and currently World’s No1 Indira Gandhi International Airport in New Delhi and greenfield Rajiv Gandhi international airport at Hyderabad. GMR Infrastructure in partnership with Megawide Construction Corporation is developing Mactan Cebu International Airport (MCIA) in Philippines. The Group is also developing two Special Investment Regions at Krishnagiri and Kakinada and India’s largest Smart Airport City near Hyderabad International Airport.
GMR Group, through its Corporate Social Responsibility arm, GMR Varalakshmi Foundation, carries out community-based development initiatives at 22 different locations in the areas of education; health, hygiene and sanitation; empowerment and livelihoods; and community development.
For further information about GMR Group, visit http://www.gmrgroup.in/index.html
For Further details, please contact:
Group Head & VP – Corporate Communication
E mail: Yuvraj.Mehta@gmrgroup.in
Mobile: +919350188469 / +91 7042688488
AGM – Corporate Communication
Mobile: +91 9971544011