27 Sep 2010 09:38
27 September 2010
KSK Power Ventur plc ("KSKPV")
KSK Power Ventur plc (KSK.L), the power project company listed on the London Stock Exchange, with interests in multiple power plants and businesses across India, is pleased to announce that its subsidiary, KSK Energy Ventures Limited ("KSKEV"), the equity shares of which are listed and traded on the National Stock Exchange of India Limited ("NSE") and the Bombay Stock Exchange Limited ("BSE"), has filed with the NSE and BSE today, the following business update with respect to the 540 MW Wardha Warora power project.
BUSINESS UPDATE - WARDHA WARORA
KSK Energy Ventures Ltd (KSKEVL) has informed BSE that the Company is in the process of setting up the 540 MW Wardha Warora Power Plant, comprising of 4 units of 135 MW each at Warora, Maharashtra. KSKEV has earlier announced the commissioning and synchronization of first unit.
KSKEV is now pleased to announce completion of the commissioning process for the synchronization of the second unit (135 MW) of the 540 MW with the Grid. The entire power from first unit is being made available to the local utility under a short term Power Purchase Agreement. The power generated from the second unit would also be made available to the local utility under the said Power Purchase Agreement.
Considering the current progress, Unit 3 is expected to achieve boiler light up, steam blowing and synchronization with the Grid during the next 10-12 weeks. Thereafter, works with respect to Unit 4 completion are expected to be taken up and it is anticipated that, prior to end March 2011, power generation from this unit would also begin.
KSK Group holds 87% of the Equity of Wardha Power Company Limited and the balance equity is held by various Industrial Consumers who are expected to undertake power consumption collectively from Unit 3 and 4 of the Power station.
For further information, please contact:
| KSK Power Ventur plc Mr. S. Kishore, Executive Director Mr. K. A. Sastry, Executive Director
| +91 40 2355 9922 |
| Arden Partners plc Richard Day / Adrian Trimmings
| +44 (0)20 7614 5917 |
| Financial Dynamics Jonathan Brill / Ed Westropp
| +44(0)20 7831 3113 |