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London, May 17 (PTI) Essar Energy Plc today said one of its group companies, Essar Power Gujarat, has inked a power purchase agreement with Gujarat Urja Vikas Nigam for supplying 800 MW of power from its upcoming project in Gujarat. Essar Power Gujarat Ltd (EPGL), an indirect subsidiary of Essar Energy would supply 800 MW of power from its 1,320 MW coal-fired Salaya II power project to be located in the Jamnagar district of the state, Essar Energy said in a statement. "The PPA is valid for a period of 25 years from the start of commercial operations. Under the terms of the PPA, EPGL will supply power to Gujarat Urja Vikas Nigam at a levellised tariff of Rs 2.80 per kwh (approximately US cents 6.2 per kwh)," it said. The balance of power from Salaya II can be sold by EPGL in the open market. "Today''s agreement continues our long standing and successful relationship with Gujarat Urja Vikas Nigam and furthers the progress of our phase II development plans to increase our generation capacity from 1,220 MW to more than 11,000 MW by the end of 2014," Essar Energy CEO Naresh Nayyar said. According to the statement, Salaya II would consist of a 1,320 MW expansion to the 1,200 MW coal-fired Salaya I plant that is currently under construction. The construction of Salaya I is more than 60 per cent complete, with commercial operations scheduled for the second quarter of 2011, the company said. "Once completed, Salaya I and Salaya II will have a total installed capacity of 2,520 MW," it added. Gujarat Urja Vikas Nigam has already entered into a separate PPA to purchase 1,000 MW of the power from Salaya I. PTI RAM.
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