EMCO Energy Warora Power Project
EMCO Energy Warora Power Project is a 600 megawatt (MW) coal plant in Maharashtra, India.
The project is located several kilometers northwest of Warora, Mahahashtra. The darker power plant to the southwest is the KSK Energy Wardha Warora Power Plant.
In March 2010, a financing agreement for the project was closed. US$574.92 million in loans was provided by Axis Bank, Andhra Bank, Corporation Bank, Oriental Bank of Commerce, Uco Bank, United Bank of India, Bank of Baroda, IDBI Bank, Punjab & Sind Bank, and Union Bank of India. US$191.64 million in equity was provided by GMR Group.
Coal supply difficulties
According to a March 2013 newspaper article, the project was experiencing coal acquisition difficulties. The article reported that "the first unit is yet to start receiving coal under the fuel supply agreement that the firm had signed with the Singareni Collieries Company Limited." According to a company source, "Coal supply is expected to begin shortly. For now, we are getting coal from the open market, including e-auction.”
GMR sells EMCO
According to one newspaper report, "There has been talk that the GMR group is keen to divest its holdings in some of its units, including GMR Emco, in order to lighten its debt burden. GMR, which had a gross debt of about Rs43,000 crore by December-end, has denied any such sale plans."
However, GMR put EMCO up for sale a few months later, in December 2013.
Sponsor: GMR Group
Location: Warora Growth Center village, Chandrapur district, Maharashtra
Coordinates: 20.2796562, 78.9753512 (exact)
Status: Operating (2013)
Capacity: Unit 1: 300 MW; Unit 2: 300 MW
Estimated annual CO2:
Source of financing: US$574.92 million in debt from Axis Bank, Andhra Bank, Corporation Bank, Oriental Bank of Commerce, Uco Bank, United Bank of India, Bank of Baroda, IDBI Bank, Punjab & Sind Bank, and Union Bank of India; US$191.64 million in equity from GMR Group
Permits and applications: Environmental Clearance, India MoEF, May 25, 2010
- GMR, "EMCO Energy", GMR Group website, accessed October 2013.
- "Preview of Emco Coal-Fired Power Plant (600MW) | Transaction | IJGlobal". ijglobal.com. Retrieved 2020-09-30.
- KV Ramana, "GMR Emco begins Warora power output," dna, March 23, 2013
- "GMR puts Emco Energy up for sale to reduce debt," Economic Times, Dec 4, 2013
Related SourceWatch articles