The Punjab government has selected the Hyderabad company GVK Industries to build the Goindwal thermal power plant. The 500 MW station is to be constructed at Goindwal Sahib, near Amritsar.
The project will be implemented under a build-own-operate structure with an investment of around $500 million. It is expected to be completed in four years. Electricity from the power plant will be sold to the Punjab State Electricity Board under a 20 year power purchase agreement.
In a separate move, GVK has also finalized the power purchase agreement for a proposed 119 MW furnace oil fired power plant at Ratlam.
The Finnish company Wärtsilä is the engineering, procurement and construction contractor for the project. Ratlam is expected to be commissioned within 18 months of financial closure.
