NAGARJUNA POWER CORPORATION LIMITED Vs. KARNATAKA POWER TRANSMISSION CORPORATION LIMITED AND KERALA STATE ELETRICITY BOARD
CENTRAL ELECTRICITY REGULATORY COMMISSION
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(1.) THE Commission by its order dated 25.10.2005 had accorded "in principle" approval for the capital cost of US $40.0 million plus Euro 66.0 million plus Rs. 3745.86 crore for Nagarjuna Power Project which is likely to be declared under commercial operation w.e.f. 1.9.2008. It was directed that the petitioner would achieve the financial closure within 120 days from the date of the order. In other words, the financial closure could be achieved on or by 22-2-2006.
(2.) The interlocutory application has been filed for seeking clarification on the order passed in the main petition on 25.10.2005 and also to seek extension of time to achieve the financial closure. The interlocutory application has been taken on record. The representatives of the parties have been heard on the application.
The petitioner informed the Commission that though the PPA was signed between five ESCOMs and NPCL on 26.12.2005, a signed copy was received only on 1.2.2006. For this reason financial closure could not be achieved. He requested for 4 months time to achieve the financial closure.
(3.) THE representative of Kerala State Electricity Board informed that PPA on its behalf might be signed by the end of May 2006.;
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