TNEB Augmenting Power Stock Ahead of summer
The TamilNadu Generation and
Distribution Company (Tangedco) has signed a long-term project agreement with a
UK-centered exclusive maker to supply 74MW from its thermal plant in Chennai.
TNEB already had a bond with OPG Power
Venture PLC, and additionally this add-on agreement will aid the TNEB from any
fluctuations in the foreign exchange market. As per the demand, TNEB will buy
power from trivial producers as well.
TNEB have been in 15 years bond with
OPG. This new private company will safeguard TNEB against the increase on
particular inland logistics costs. This private company is a trivial sector
which will supply 74MW power to TNEB.
This agreement will be in act from 1st
January and will expire on May, 2014, declared by the company’ chief executive,
Arvind Gupta. Before these arrangements, already the power was sold to TNEB at
the rate of 5.50 per KWh.
TNEB official states that, even small
units producers of about 100MW will be obliging when the exigency goes up.
Temporarily, TNEB need to be with
patience in getting the extra power of 562MW from the 1st unit of Kudankulam
Nuclear Plant. The 1st unit which has been coordinated with the TNEB grid on
21st October, 2013, is presently spawning around 600MW unit power.
