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Punjab buys 540MW Goindwal thermal plant for ₹1,080 crore
Chief minister Bhagwant Mann says with purchase of plant by Punjab State Power Corporation Limited (PSPCL), state will save ₹300 crore- ₹500 crore in generation cost as compared to what it was paying to GVK Group
Chief Minister Bhagwant Mann on Monday announced that the Punjab government has bought GVK Group’s 540MW thermal plant at Goindwal Sahib in Tarn Taran district.
Addressing a press conference, Mann said the Punjab State Power Corporation Limited (PSPCL) has purchased the plant for ₹1,080 crore.
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This is the country’s cheapest purchase of any power plant, he claimed, adding that the deal stands at ₹2 crore per MW.
The project, which came up seven years ago, is left with a life of 18 years.
With the purchase of this power plant, the Punjab government will save ₹300 crore- ₹500 crore in generation cost as compared to what it was paying to the GVK Group according to the power purchase agreement (PPA) signed during the Shiromani Akali Dal-BJP government’s tenure, Mann said.
Probing PPAs is one of the poll promises of the Aam Aadmi Party government.
