GAIL is actively exploring the possibility of setting up a 250-MW gas-based merchant power plant at Usar in Maharashtra. An in-principle approval for the project was recently provided by the company's Business Development and Marketing Committee. - The committee has directed the gas major to ink an MoU with the power major, Power Trading Corporation (PTC), for sale of power on merchant-sale basis. However, the power purchase agreement (PPA) will only be executed after obtaining an investment approval for the Usar Power Project.
- The project is being seriously considered by GAIL in the light of the preliminary findings submitted by Mercados Energy Markets International (MEMI), as part of the study on the opportunities for GAIL in the power sector.
- GAIL is also on the look-out for a Project Management Consultant (PMC) for the proposed project. As per the directions of the business development committee, in order to qualify for the job, the PMC should have successfully executed at least three gas-based projects of similar capacity in India.
- As a precautionary measure, the committee has directed GAIL to proceed with the proposal only if it can be made bankable at an acceptable debt-equity ratio.
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