Maharashtra Industrial Development
Corporation (MIDC) on 18 April 2006, signed an MoU with Reliance Energy (REL) to
set up two group captive power projects.
These projects will be coming up in
the MIDC-run Trans Thane Creek (TTC) Industrial Estate near Mumbai (165 MW) and
Butibori near Nagpur (130 MW) with an estimated investment of Rs.500 crore.
REL is expected to invest Rs.1,800
crore in the two projects and will incorporate two special purpose vehicles (SPVs),
along with industrial consumers, for both the industrial areas to execute these
projects. The SPVs will hold equity of both REL and the industrial consumers as
per requirement to qualify for group captive power project.
Also See:
Group
captive power plants: Reliance to ink pacts with MIDC (17-Nov-05)
Related Links:
Project
profile