Difference between revisions of "Krishnapatnam Ultra Mega Power Project"
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In June 2011, Reliance Power stopped work at its Krishnapatnam Ultra Mega Power Project, citing a hike in the cost of [[Indonesia and coal|Indonesian coal]] that the project is to run on. Reliance Power claims that the new Indonesian Coal Price Regulation will push up the coal cost, and the company will not be able to meet the conditions set by the lenders, affecting its ability to meet the project cash flow requirements. The stoppage comes even as work on the associated infrastructure for the project is ongoing, including Power Grid Corporation's transmission link (Krishnapatnam-Nellore line for start-up power) that is scheduled to come up by November 2012.<ref name=as>Anil Sasi, [http://www.thehindubusinessline.com/industry-and-economy/banking/article2211624.ece?homepage=true "RPower halts work on mega AP project citing costlier imported coal"] ''The Hindu Business Line'', ''July , 2012.</ref> | In June 2011, Reliance Power stopped work at its Krishnapatnam Ultra Mega Power Project, citing a hike in the cost of [[Indonesia and coal|Indonesian coal]] that the project is to run on. Reliance Power claims that the new Indonesian Coal Price Regulation will push up the coal cost, and the company will not be able to meet the conditions set by the lenders, affecting its ability to meet the project cash flow requirements. The stoppage comes even as work on the associated infrastructure for the project is ongoing, including Power Grid Corporation's transmission link (Krishnapatnam-Nellore line for start-up power) that is scheduled to come up by November 2012.<ref name=as>Anil Sasi, [http://www.thehindubusinessline.com/industry-and-economy/banking/article2211624.ece?homepage=true "RPower halts work on mega AP project citing costlier imported coal"] ''The Hindu Business Line'', ''July , 2012.</ref> | ||
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| + | In August 2014, it was reported that Reliance Power had approached the Andhra Pradesh government with a proposal to revive the project. According to AP Southern Power Distribution Company (APSPDCL), Reliance Power had offered a compromise formula to revive the project. Under the proposal, APSPDCL would withdraw its termination notices and Reliance Power would drop the cases it had filed against APSPDCL in the Delhi High Court.<ref name=compromise>CR Sukumar, [http://articles.economictimes.indiatimes.com/2014-08-27/news/53285059_1_krishnapatnam-umpp-coastal-andhra-power-reliance-power "Reliance power approaches Andhra Pradesh government to revive Krishnapatnam UMPP,"] The Economic Times, August 27, 2014</ref> | ||
==Project Details== | ==Project Details== | ||
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'''Projected in service:''' <br> | '''Projected in service:''' <br> | ||
'''Coal Type:''' <br> | '''Coal Type:''' <br> | ||
| − | '''Coal Source:''' <br> | + | '''Coal Source:''' Indonesia<br> |
'''Estimated annual CO<sub>2</sub>:''' 7,806,085 tons<ref>For estimation method, see [[Estimating carbon dioxide emissions for proposed coal plants in India]]</ref><br> | '''Estimated annual CO<sub>2</sub>:''' 7,806,085 tons<ref>For estimation method, see [[Estimating carbon dioxide emissions for proposed coal plants in India]]</ref><br> | ||
'''Source of financing:''' The Krishnapatnam power project achieved financial closure in July 2009. The lenders for the project are a consortium of 12 banks lead by IDBI Bank. The lending was done on a project finance basis for an estimated project cost of around Rs. 17,450 crs (US$ 4 billion) with a debt-equity ratio of 75:25.<ref>[http://www.reliancepower.co.in/business_areas/power_projects/coal_based_projects/krishnapatnam.htm "Krishnapatnam Ultra Mega Power Project,"] Reliance Power website, accessed February 2014</ref><br> | '''Source of financing:''' The Krishnapatnam power project achieved financial closure in July 2009. The lenders for the project are a consortium of 12 banks lead by IDBI Bank. The lending was done on a project finance basis for an estimated project cost of around Rs. 17,450 crs (US$ 4 billion) with a debt-equity ratio of 75:25.<ref>[http://www.reliancepower.co.in/business_areas/power_projects/coal_based_projects/krishnapatnam.htm "Krishnapatnam Ultra Mega Power Project,"] Reliance Power website, accessed February 2014</ref><br> | ||
Revision as of 17:54, 31 August 2014
{{#badges: CoalSwarm|Navbar-Indiacoal}} Krishnapatnam Ultra Mega Power Project is a proposed coal plant in Andhra Pradesh, India.
Contents
Location
The map below shows the location of the project, according to Wikimapia.[1]
Background
Krishnapatnam Ultra Mega Power Project is one of nine Ultra Mega Power Projects proposed by the government of India as part of a strategy to add an additional 100,000 megawatts of generation capacity by 2017. The 4,000 megawatt project is in the state of Andhra Pradesh and is being developed by Reliance Power.[2][3]
The Krishnapatnam project is one of the four Ultra Mega Power Projects in India awarded as of July 2011. Of these, three are being executed by Reliance Power.[4]
In June 2011, Reliance Power stopped work at its Krishnapatnam Ultra Mega Power Project, citing a hike in the cost of Indonesian coal that the project is to run on. Reliance Power claims that the new Indonesian Coal Price Regulation will push up the coal cost, and the company will not be able to meet the conditions set by the lenders, affecting its ability to meet the project cash flow requirements. The stoppage comes even as work on the associated infrastructure for the project is ongoing, including Power Grid Corporation's transmission link (Krishnapatnam-Nellore line for start-up power) that is scheduled to come up by November 2012.[4]
In August 2014, it was reported that Reliance Power had approached the Andhra Pradesh government with a proposal to revive the project. According to AP Southern Power Distribution Company (APSPDCL), Reliance Power had offered a compromise formula to revive the project. Under the proposal, APSPDCL would withdraw its termination notices and Reliance Power would drop the cases it had filed against APSPDCL in the Delhi High Court.[5]
Project Details
Sponsor: Coastal Andhra Power; parent: Reliance Power
Location: Krishnapatnam village, Nellore district, Andhra Pradesh
Coordinates: 14.2520611, 80.1207483 (exact)
Status: Shelved
Nameplate capacity: 4,000 MW
Type: Ultra Mega Power Project
Projected in service:
Coal Type:
Coal Source: Indonesia
Estimated annual CO2: 7,806,085 tons[6]
Source of financing: The Krishnapatnam power project achieved financial closure in July 2009. The lenders for the project are a consortium of 12 banks lead by IDBI Bank. The lending was done on a project finance basis for an estimated project cost of around Rs. 17,450 crs (US$ 4 billion) with a debt-equity ratio of 75:25.[7]
Permits and applications: Environmental clearance, India MoEF, Oct 23, 2007
Carbon credits
As of July 2011, five "high-efficiency" coal power plants, including Krishnapatnam, were registered under the UN's Clean Development Mechanism -- four in India and one in China -- meaning they are all eligible to earn certified emissions reductions (CERs) that they can sell. The five registered power projects involve two from Reliance Power totalling 8,000 MW, two projects totalling 2,640 MW from Adani Power and a 2,000 MW ultra-supercritical plant by Shenergy in China.
According to U.N. data, the five projects are eligible to receive a total of 68.2 million CERs over a 10-year crediting period. That is worth 661 million euros ($919 million) based on current prices of CERs traded on the European Climate Exchange of 9.70 euros.
Reliance's Krishnapatnam Ultra Mega Power Project will receive 12.3 million CERs and the firm's other 4,000 MW plant, Sasan Ultra Mega Power Project in Madhya Pradesh, will receive 22.5 million. Total carbon dioxide emissions from the five projects, based on data from project design documents, over the 10-year crediting period is 673 million tonnes.[8]
Articles and resources
References
- ↑ "Krishnapatnam Ultra Mega Power Project," wikimapia, accessed March 2014.
- ↑ Rebecca Petchey, Michael Lampard and Alan Copeland, Thermal coal", Australian commodities, ABARE, Volume 17 number 1, March quarter 2010, page 155.
- ↑ Amiti Sen & Subhash Narayan, "States make case for second UMPP with advanced land clearances", Economic Times, (India), March 20, 2010.
- ↑ 4.0 4.1 Anil Sasi, "RPower halts work on mega AP project citing costlier imported coal" The Hindu Business Line, July , 2012.
- ↑ CR Sukumar, "Reliance power approaches Andhra Pradesh government to revive Krishnapatnam UMPP," The Economic Times, August 27, 2014
- ↑ For estimation method, see Estimating carbon dioxide emissions for proposed coal plants in India
- ↑ "Krishnapatnam Ultra Mega Power Project," Reliance Power website, accessed February 2014
- ↑ David Fogarty, "Carbon credits for India coal power plant stoke criticism" Reuters Africa, July 12, 2011.
Related SourceWatch articles
- India and coal
- Reliance Power
- Tilaiya Ultra Mega Power Project
- Sasan Ultra Mega Power Project
- Proposed coal plants in India
External resources
External articles
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