Meenakshi Energy Private Limited

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The Krishnapatnam Thermal Power Project was a 540 MW coal based thermal power plant located at Krishnapatnam port in Thamenapattanam Village in Nellore District in Andhra Pradesh. The project was initially planned as a 250 MW plant. However, the scope was later revised to develop a 540 MW power project on a Build-Own-Operate (BOO) basis. The project was to be implemented in two phases, each with a capacity of 2x135 MW. The project was being developed by Meenakshi Energy Private Limited (MEPL), a part of the Meenakshi Group, following direct negotiations with the Government of Andhra Pradesh. MEPL signed a Memorandum of Understanding with Power Trading Corporation India Limited (PTC), a power trading company, for the sale of entire power from this project for a period of 25 years. The project was estimated to cost US $670 million. Financial closure for the project was achieve in June 2008 with a debt equity ratio of 75/25. Construction work started in July 2009 and concluded in December 2010. The project was expected to be completed by December 2010. http://meenakshigroup.net/html/power_projects.html