Last checked at 31 Mar 2010 09:36
31 March 2010
KSK Power Ventur plc
("KSK" or "the Company")
Commissioning of VS Lignite Power Plant
Further to the announcement earlier today, KSK Power Ventur plc (KSK.L), the power project company listed on the Main Market of the London Stock Exchange, with interests in multiple power plants 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 today announced the successful commissioning of it 135 MW VS Lignite Power Plant. The full text of the announcement issued by KSKEV to the NSE and the BSE is set out below:
"VS Lignite Power Plant - Commencement of Power Generation
KSK Energy Ventures Limited ("KSKEV") announces the commencement of power generation from their 135 MW lignite fired project in Rajasthan. The project undertaken through the special purpose vehicle, VS Lignite Power Private Limited ("VSLP"), is a group captive power plant and will primarily cater to the power requirements of premier industrial consumers in the state of Rajasthan through long term Power Delivery Agreements. All the interim surplus and stabilization phase supplies shall be made available to the local Rajasthan utility, through whose grid system, the power plant would ultimately deliver power to the various contracted industrial consumers under open access arrangements.
The project is based on lignite supplies from Gurha East captive lignite block, located in the Bikaner District. The captive lignite block was awarded in July 2005 and has entered into operations. Spread over an area of approx 1200 hectares, the mine land has been fully acquired. The lignite is planned to meet the entire lignite requirement of 1 mtpa which is required for generation of 135 MW power at VSLP.
KSKEV has been able to start testing the power plant parameters based on the lignite supplies from Gurha East mine, its own fuel source.
With this addition, the installed generation capacity of KSK will increase from 144 MW to 279 MW"
Commenting on the commissioning of the plant, Mr. T. L. Sankar, Chairman of KSK, said:
"The VS Lignite was a challenging project and we are delighted about the achievement and power generation having commenced. We are looking forward to releasing further details on our other sites and operations in due course."
For further information please contact:
KSK Power Ventur plc +91 40 2355 9922
Mr. S. Kishore, Executive Director
Mr. K. A. Sastry, Executive Director
Arden Partners plc +44 (0)20 7614 5900
Richard Day / Adrian Trimmings
Financial Dynamics +44(0)20 7269 7157
Jonathan Brill / Billy Clegg / Ed Westropp