The deal was struck with US-based Ogden Energy Asia Pacific and Development Consultants Kuljian. The proposed investment of Rs 1,620 crore for setting up of the fourth and fifth units of the power project is the second biggest investment in the state after the Haldia petrochemicals project. The first three units of the Bakreswar power plant were made operational earlier this year with aid from Japan's Overseas Economic Cooperation Fund (OECF). The Central Electricity Authority has already given techno-economic clearance to the joint venture. The tripartite agreement was signed during the 13th India Industrial Trade Fair. Ogden Energy will hold 60 per cent of the stake while DC-TKC and WBPDC will hold 26 and 14 per cent. Like the first three units, the capacity of the fourth and fifth units has been pegged at 210 megawatt (mw). The fourth unit is likely to be commissioned in 33 months while the fifth is expected to go on stream in 36 months. With the completion of these two units, the total productioncapacity of the Bakreswar plant would go up to 1,050 mw.

According to the state government, the completion of the Bakreswar power plant will ensure that West Bengal becomes not only self-sufficient in power but also be in a position to export electricity to other states. The achievement will be notable for West Bengal, which was notorious for regular and indefinite blackouts in the '80s. According to power department sources, the coal supply contract has been given to Eastern Coalfields while an agreement has been signed with the West Bengal State Electricity Board for purchase of the electricity generated. DC-TKC, a worldwide power plant consultancy firm that had helped in the setting up of about 150 projects, will for the first time be participating in a project as a co-developer and an equity holder.

State power department sources told IANS that the government had commissioned the first three units of the Bakreswar power plant almost on schedule and hoped to repeat that performance again. Industry circles said the ongoing Cogentrix imbroglio in Karnataka may actually speed things up for Bakreswar.

-- India Abroad News Service