Power Finance Corporation (PFC) -- the nodal agency appointed by the power ministry for the development of four ultra mega power projects --- is expected to invite expressions of interest by end-January 2006. By December 2006, project developers are likely to be awarded projects based on competitive bidding of tariff.

The location for the proposed project has been identified as Madhya Pradesh and Chhattisgarh for each pit head coal-based project and in Karnataka and Gujarat for each imported coal-based projects.

PFC has also identified proposed site near Ratnagiri in Maharashtra for imported coal based project. The company will appoint consultancy in January 2006 for carrying out environmental studies and within 15 days for doing feasibility reports.

Coal ministry has also assured to provide captive captive coal mines for pit head based projects.

On 6 January 2006, Power Secretary Mr. R V Shahi has convened meeting with various lenders and banks to fund the ultra mega power projects plan. Currently inter institutional group is functional to organise funds for various power project so that promoters can achieve early financial closure.

Also see:

Centre to boost private sector in hydro power projects (26-Dec-05)

Ref: ultramega5