Ratnagiri Gas and Power Pvt Ltd, the joint venture between state-run firms NTPC and GAIL, will sell about five per cent of its total capacity of 1,967 Mw outside Maharashtra, for the first time starting July this year.
The company is also planning a 2,100 Mw capacity expansion addition but it will depend on availability of gas, chairman D K Jain told Business Standard. Ratnagiri Gas and Power Pvt Ltd (RGPPL) was set up in 2005 by NTPC and GAIL to take over and revive the assets of Dabhol Power Company, which was to be executed by Enron Corp earlier but was stalled after a payment crisis.
RGPPL has signed a power purchase agreement with the government of Daman and Diu for selling about 98 Mw of power from July. The PPA was signed earlier this month.
It will shut one of its gas turbine units, for 230 Mw, for repairs this month by GE Energy. RGPPL and GE had signed a comprehensive agreement to repair and service the equipment of the erstwhile Dabhol power plant. The work should be done by July.
Currently, the company has been allocated 8.5 mscmd of gas from the KG-D6 basin and it is getting 7.6 mscmd right now. The expansion will solely depend on the availability of domestic gas.
NTPC and GAIL own 30.17 per cent stake each of RGPPL. The Maharashtra State Electricity Board has 17.9 per cent, while the rest is with various financial institutions.
