KT Transco Pvt Ltd (JKTPL), a 51:49 joint venture between Kalpataru Power Transmission Ltd and Techno Electric and Engineering Co Ltd, has commissioned a 400KV intra-State power transmission project in Haryana.
According to Kolkata-based Techno Electric, the project was ready a fortnight ago in a record 16 months from the financial closure.
The project, a public-private partnership initiative of the Haryana government, is the first ever transmission project to get viability gap funding support from the Central government.
JKTPL was awarded the project in May 2010 by Haryana Vidyut Prasaran Nigam Limited (HVPNL) on a DBFOT basis for a concession period of 25 years, extendable by another 10 years.
JKTPL will receive terminal value equivalent to 60 months revenue at the end of 25th year of concession period, in case the concession period does not get extended to 35 years.
HVPNL is the first State utility to promote this kind of a PPP in power transmission.
The Rs 444-crore project has been financed through a mix of debt and equity -- debt at Rs 276 crore and the equity of Rs 76 crore. The grant of Rs 92 crore has been extended by the Central Government. The project will ensure a sustainable income flow of Rs 4.5 crore to the company as a unitary charge payable per month.
The 400 KV Transmission System comprises of double circuit quad moose line extending from Jharli to Kabulpur, Rohtak (35 km) and Kabulpur to Dipalpur, Sonepat (64 km) with two sub-stations of 400/220 KV each at Rohtak and Sonepat.
The transmission network is designed to facilitate evacuation of 2,400 MW of power and will initially transmit 1,320 MW (2 x 660 MW) of power from Jhajjar Power Plant in Haryana.
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