India’s Oil major Oil and Natural Gas Corporation Ltd (ONGC) has finalised a plan to set up its first power plant in Tripura. The power plant will be of 750-MW capacity, to be set up by ONGC together with IL&FS and Tripura Power Development Corporation (TPDC). Subir Raha, chairman, ONGC, said: “We will create a special purpose vehicle (SPV) for the power plant and the proposed plant will require an investment of Rs 3000 crore and it will be a gas-based power plant.” Raha also said that the company has been seriously pursuing its plan for the offshore grid project which is expected to generate around 25-300 mw of saleable power. The Tripura project is expected to be operational in three years.
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