KSK Energy Ventures Ltd has announced that the company has commissioned third unit of 135 MW of the 540 MW (135x4) Wardha Warora thermal plant located in Maharashtra.

The company in a statement to the stock exchanges has announced that work on the fourth unit of the project is also under way and is likely to be completed during the current quarter.

The company expects the necessary coal linkage for the project to materialise by February to March.

KSK Group owns about 87% of the total equity in the Wardha Power Company, which is implementing the thermal project and the balance of equity is held by various industrial consumers. While the company has been supplying to the local utility through the grid, the power generated from the third and fourth units of the project would be supplied to its equity partners and owners of industries nearby.

In a major milestone, the company has also achieved financial closure for the 3,600 MW KSK Mahanadi power project coming up in Chhattisgarh. The INR 16,190 crore project is being funded by a clutch of 27 Indian banks and financial institutions and the equity investment is partly being provided by IFCI Ltd. IFCI will hold about 7.72% equity in KSK Mahanadi.

The company has engaged the services of Shandong Electric Power Construction Corporation, a Chinese firm to serve as an EPC contractor.

(Sourced from BL)