Web Exclusive | October 2012
Petronet to sell its power from Kochi plant at Rs 6.5/unit
Petronet LNG expects to sell power from its upcoming Kochi plant at a tariff between Rs 6 and Rs 6.5 a unit. An analyst report of Edelweiss Securities said that it was disclosed by the management to analysts from Edelweiss.
Petronet LNG’s Kochi LNG terminal is almost ready for commissioning. It is likely to go on stream by December 2012 or January 2013. The terminal is ready and awaiting the start of phase 1 of GAIL’s Kochi to Bengaluru to Mangalore pipeline.
While the LNG imported via the Kochi terminal it will feed several user industries such as HOCL and FACT. Petronet LNG itself is putting up three power projects of 350 mw each to provide the demand for gas. The project is being put up under a joint venture in which Petronet LNG and the Kerala Government will have equal stakes.
Petronet LNG will need to invest between Rs 600 crore and Rs 700 crore for its equity, over the next 3 to 4 years.