NTPC will set up 4,000 MW power project at Visakhapatnam in Andhra Pradesh at a cost of Rs 23,000 crore, officials said. The state Chief Minister N Kiran Kumar Reddy cleared the State Government's concurrence for buying 50 per cent of the power generated (2,000 MW) at the plant.The tariff for the power generated from the plant to be located at Pudimadaka, Anakapalli Mandal, Visakhapatnam District will be decided by the Central Electricity Regulatory Commission (CERC), according to a press note.
Andhra government had conveyed its willingness for the project in November on the condition that at least 50 per cent of the power produced there shall for all times be allocated to the State which was agreed to by NTPC.
The Andhra Pradesh government will facilitate necessary clearances required and provide land and water for the project, the press note said.
Source- Economic Times