Orissa chief minister Naveen Patnaik today dedicated the first unit of the 2,400 MW Independent Power Plant of Sterlite Energy Limited,the first IPP project in the state to be operational out of 27 proposals for which MoUs were signed by the state government. The first 600 MW unit of Sterlite Energy (4 x 600 MW),the energy arm of Vedanta Group,would be supplied entirely to Orissa,which is now facing a power crisis on rising demand. The power from the first unit will be supplied to the state at a rate of Rs 2 to 2.50 per unit. The power station will contribute about Rs 500 crore annually to the state exchequer in the form of royalty,electricity duty and other state taxes Vedanta has already invested about Rs 10,500 crore for this project. The entire 2,400 MW project is expected to be completed in the financial year 2011-12. Once completed,the 2,400 MW power plant has the capacity to meet the power needs of the entire state. The Independent Power Plant is the first of its kind in the private sector in Orissa with its state of the art technology. Coal for the plant will be sourced from the IB Valley coalfield.
