The minister said after acquiring equity, MahaGenco would help IPPs to operate and maintain power plants and improve its functioning with higher plant load factor.
The minister said MahaVitaran would subsequently enter into long-term PPA with these IPPs for the drawal of power at Rs 3.20 to 3.30 per unit. He added that power cost of some of the MahaGenco’s plants was ranging between Rs 4 and Rs 5.20 per unit against the present market rates.
Bawankule said the move to acquire stakes in IPPs is aimed at meeting the requirement of 5,000 Mw during 2020 and 2025. “At present, Maharashtra is power surplus and it will continue till 2020 mainly due to the completion of various projects already launched and proposed by MahaGenco. About 2,650 Mw of MahaGenco’s new generation capacity will be connected between March and December 2016. Besides, MahaVitaran has tied up with IPPs for medium and long-term power purchase,” he said.