GULPUR HYDROPOWER PROJECT (MIRA POWER LIMITED) |
Salient Features |
| Project Company |
Gulpur Hydropower Project (Mira Power Limited) |
| Policy |
Power Policy 2002 |
| Main Sponsor |
Korea South East Power Co. (KOSEP) |
| Main Sponsor Shareholder |
76% |
| Other Sponsors |
DAELIM Industrial Co. and LOTTE E&C Co. DAELIM's spin-off request in process |
| Other Sponsors Shareholder |
24% (18 % & 6%) |
| Lenders |
KEXIM, IFC, ADB, CDC |
| Province |
AJK |
| Location |
District Kotli, AJ&K |
| River |
Poonch |
| Gross Capacity |
102MW |
| Net Capacity |
100.98MW |
| Technology |
Hydro Electric |
| Configration |
2 No. Kaplan Turbines |
| Total Project Price(USD) |
317.17Million EPC, Stage-2 |
| Debt Equity Ratio |
75:25 |
| Debt Amount USD |
238.22Million |
| Equity Amount USD |
79.41Million |
| Levelized Tariff |
9.0241US c/kWh |
| Levelized CPP |
0.1851US c/kWh |
| Levelized EPP |
8.8389US c/kWh |
| 1-12 Years Tariff |
10.5594US c/kWh |
| 13-30 Years Tariff |
5.0210US c/kWh |
| FS Tariff |
5.42US c/kWh 10-Feb-2009 |
| EPC Tariff |
9.0241US c/kWh 3-Aug-2015 |
| Power Purchaser |
Central Power Purchasing Agency (Guarantee) Limited (CPPA-GL) |
| Term of Project |
30Years |
| Primary Fuel |
Hydro |
| Fuel Supplier |
GOAJ&K |
| EPC Contractor |
JV of DAELIM & LOTTE |
| Owner's Engineer |
JV of MWH and NESPAK |
| Annual Availability |
94.5% |
| Annual Energy Yields |
474.996GWh |
Important Milestones |
| Submission of Proposal |
13-OCT-2004 |
| Approval of PPIB Board |
23-DEC-2004 |
| Issuance of Notice to Proceed |
1-JAN-2005 |
| Submission of PG@US$ 1000/MW |
28-FEB-2005 |
| PG Validity |
01-SEP-2006 |
| Issuance of LOI |
12-MAR-2005 |
| Tariff Determination |
03-AUG-2015 |
| Submission of PG@US$ 5000/MW |
30-JAN-2010 |
| Date of issuance of LOS |
27-APR-2010 |
| LOS Extension 1, 2 |
23-May-2013 12 Months, 8Months |
| Implementaion Agreement (GOP) |
14-APR-2014 GOP 28th October 2015 (Amendment) & AJK IA 16th March 2015, 25th January 2016 (Amendment) |
| Direct Implementation Agreement |
09-SEP-2015 Direct IA AJ&K 13th Oct-2015 |
| AJK IA |
16-Mar-2015 Amendment 1: 25-Jan-2016 |
| Direct AJK IA |
13-Oct-2015 |
| Power Purchase Agreement |
03-SEP-2015 |
| Direct Power Purchase Agreement |
14-Oct-2015 |
| Water Use Agreement |
16-MAR-2015 |
| Direct Water Use Agreement |
13-Oct-2015 |
| EPC Contract |
7-AUG-2015 |
| Financing Documents |
14-MAY-2015 |
| Achievement of Financial Close |
30-OCT-2015 |
| RCOD |
1-NOV-2019 |
| COD |
10-MAR-2020 |
