SCCL to set up thermal power plant in Adilabad

HYDERABAD: The Singareni Collieries Company Limited (SCCL) is setting up a 2x600 MW coal-based thermal power plant at Pegadapalli village in Adilabad district.An agreement has been reached between the SCCL and the Power Finance Corporation Limited for a term loan of Rs 3,980 crore against a capital outlay of Rs 5,685 crore required for setting up of the thermal power plant.As part of its diversification plans, the SCCL has already entered into a power purchase agreement with the power distribution companies in the state for sale of 1,050 MW of power to be generated from this project.The remaining 150 MW is proposed to be used for its captive consumption.The first unit of the power plant would be completed in the next three years and the second unit would be commissioned within the next four years.According to a release, SCCL chairman and managing director S Narasing Rao along with officials of the Power Finance Corporation and Industrial Finance branch of the State Bank of Hyderabad were present.