Middle and Lower Kolab Hydro Electric Project

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The 37 MW Middle and Lower Kolab Hydro Electric Project in Orissa state was developed by an independent power producer, Meenakshi Power Ltd., on a build-own-operate (BOO) basis. The project consisted of 25 MW Middle Kolab hydro electric project and 12 MW Lower Kolab hydro electric project. In January 2004, Meenakshi Power Ltd. entered into a power purchase agreement (PPA) with PTC India Limited, a power trading firm. The term of the PPA is 30 years from the date of commissioning. The project reached financial closure in 2005. There was no public information on the cost of the project. Construction work began in 2005 and the project was scheduled for commissioning in 2007. July 2012: total investment was ESTIMATED at 37MW x 0.9 million per mw (average for SA), $33.3 million.