SPIC Electric Power Corporation (SEPC), a subsidiary of Tamilnadu Petroproducts (TPL), has decided to restart its 523 MW coal based power plant at Tuticorin in Tamil Nadu.
In 2001, the project was put on hold due to land issues. Now, the V O Chidambaranar Port Trust has agreed to give alternative land to start work on the project. SEPC had already got environmental clearance for the Rs 2,300-crore project.
In 2009, SEPC and an investor company - Trinity Infraventure - had signed an agreement for implementation of the power project. The investor company has agreed to bring in 74 per cent of the equity needed.
2011 saying there was no impediment in implementing the project and further directed certain amendments to the Power Purchase Agreement already implemented by SEPC and Tamilnadu Generation and Distribution Corporation. In January 2012, SEPC and Tamilnadu Generation and Distribution Corporation have signed the amendments to the PPA in January 2012 as ordered by the Tamil Nadu Electricity Regulatory Commission.