(FE)
NTPC has recently commissioned the first unit (660MW) of its Khargone TPP (2x600MW). This plant is India’s first ultra-super-critical project with a station heat rate (SHR) of 2,070kcal/kWh. Notably, it is ~3% more efficient than the super critical ones given the higher steam parameters. Unit-1 is likely to commercialise soon, while unit-2 commissioning is scheduled for Jan’20. NTPC organised an analyst visit to this plant. Below are our key takeaways from it.
NTPC has completed trial-run operations at full load for unit-1 on 29th Sep’19 and will likely commercialise the unit this month. For unit-2, light up will likely be completed over the next one month with commissioning scheduled for Jan’20. Total project cost for the plant is ~Rs 110b (~Rs 83m/MW) – excluding FGD. FGD contract of Rs 5.2b has been awarded and likely to commission in Nov ’20. In terms of PPA, 50% of capacity is tied up with Madhya Pradesh, ~19% with Gujarat and ~10% with Chhattisgarh. Balance is with other states (Maharashtra, Goa) and UTs (Daman & Diu, Dadra & Nagar Haveli).
