Dabhol project to achieve maximum load by Apr

The beleaguered Dabhol power project is set to achieve generation of 1,500 Mw by January 10 and a maximum generation of 1,950 Mw by April 2010. Currently, the project is generating 1,000 Mw.

"Due to the commissioning of additional turbines, the project will start generating 1,500 Mw by January 10. Besides, General Electric has assured to deliver rotor, which is currently being repaired at its UK facility, by the middle of February.

This will enable the project to achieve a maximum generation of 1,950 Mw by April," AK Ahuja, managing director of Ratnagiri Gas and Power Pvt Ltd, which operates the Dabhol plant, told Business Standard today.

Ahuja said the revised schedule for achieving a maximum load of 1,950 Mw was recently discussed at the meeting convened by power minister Sushilkumar Shinde.

According to Ahuja, the financial problems faced by the Dabhol project have been addressed. RGPPL is currently recovering a per unit tariff of Rs 4.44 from the MahaVitaran, which is the sole procurer of the power.

"Of the Rs 4.44, fixed charge of Rs 2.24 has been allowed by the Appellate Tribunal of Electricity in its interim order issued in August, while the balance Rs 2.20 is towards variable charge. Due to this, RGPPL is now able to service a debt of Rs 100 crore per month to its lenders."

Ahuja informed that RGPPL had a total debt burden of Rs 9,000 crore (Rs 90 billion) from IDBI Bank, ICICI Bank, State Bank of India, Canara Bank and the state-run Power Finance Corporation.

MahaVitaran sources informed that the Maharashtra Electricity Regulatory Commission had recently allowed it to recover the impact of the ATE's interim order by way of additional charge to the extent of Rs 785.90 crore (Rs 7.85 billion) for FY 2009-10 in the remaining months of the year (December 2009 to March 2010) at Rs 35.28 paise per unit from its customers.

However, Ahuja said the MahaVitaran still owes Rs 241 crore (Rs 2.41 billion) to RGPPL towards tariff.