LUCKNOW: Uttar Pradesh Power Corporation Limited (UPPCL) today signed a memorandum of understanding with Niveli Lignite Corporation for setting up a 2000 MW power project in Kanpur, with an estimated cost of Rs 10,000 crore, said a government release.
The coal-based power project, which would be jointly set up by UPPCL and Niveli Lignite, would have 49 per cent share capital of the Uttar Pradesh government.
The tariff of the power generated by it would be fixed as per the norms of the Central Electricity Regulatory Authority, the government spokesman said.
Uttar Pradesh would get a minimum of 75 per cent power share from the plant with the nod of the central power ministry, the state government spokesman said.
Niveli Lignite will make efforts to complete the project by 2014, the spokesman added.
On behalf of the state, Chief Secretary Atul Kumar Gupta and for Niveli Lignite, its Chairman and Managing Director A R Ansari signed the MoU.