NEW DELHI: State-run NTPC Limited (formerly National Thermal Power Corporation) disclosed on Monday that it had offered up to 49 per cent stake to Qatar Petroleum in the Kayamkulam power project.
Talking to reporters here, NTPC Chairman and Managing Director R.S. Sharma said the move was aimed at securing fuel supply for the power plant. ‘‘We have offered Qatar Petroleum less than 50 per cent stake in our Kayamkulam gas-based power station in Kerala,'' he said.
The current capacity of the Kayamkulam plant is 350 MW, which NTPC is planning to expand to 1,050 MW in the next two years and further to 1,800 MW.
The company may form a Special Purpose Vehicle (SPV) for the last-stage expansion, in which it would offer stake to Qatar Petroleum. NTPC is keen to get Qatar in the Kayamkulam project, as the Gulf nation would help in return by bringing gas for the plant.
With uncertainty over gas from Reliance Industries Limited (RIL) KG Basin, the deal with Qatar Petroleum would give some stability to India's largest power producer.
NTPC plans to become a 75,000-MW company by 2017, and to achieve the target, the company needs to have assured supply of fuel, both coal and gas.
The company generates about 4,000 MW of electricity from its seven gas-based plants and 1,940 MW from the Ratanagiri plant, a joint venture with GAIL (India) Ltd. and the Maharashtra State Electricity Board. The company is planning a mega expansion of 6,000 MW for its functional gas-based stations at Kawas and Gandhar (Gujarat), Auraiya and Dadri in Uttar Pradesh and Kayamkulam in Kerala.
For the capacity addition of this magnitude, the company requires 30 million standard cubic metres of gas per day (mmscmd).
One mmscmd is needed for firing a 200-MW gas-based power project.
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