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 |