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GMR Energy's gas-based plants, 388 mw GMR Vemagiri Power Generation Limited (GVPGL) and 768 mw GMR Rajahmundry Energy Limited (GREL) have been awarded Letter of Intent for gas allocation for four months i.e. from June to September 2015.
These plants emerged as successful bidders through a highly competitive reverse auction process organised by Ministry of Power for the stranded gas power plants.
The award will enable both plants run at 25 per cent Plant Load Factor for capacities of 370 mw (GVPGL) and 384 mw (GREL). Based on the award, these plants would be entitled to subsidy support of Rs 1.44 per unit over and above the limit of Rs 4.70 per unit payable by power procurers for the units generated with the allotted gas quantity.
This allotment is as per the programme for gas auction finalised by Ministry of Power. The gas supply for stranded plants through this process is planned for two years, of which this auction covers a period of 4 months. The current award would facilitate commissioning of GREL and operation of both the plants.
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