1st independent power project in India goes to CMS Energy
CMS Energy Corp. (CMS) has received approval from the International Finance Corp. for a 235-MW power plant to be built in eastern India, the first independent power project under the government`s new policy opening its power sector to private investors.
The natural gas combined-cycle plant is expected to cost approximately (US)$118 million and will be built in the state of Andhra Pradesh with CMS subsidiary CMS Generation as project manager and plant operator.
G.V.K. Industries, a local industrial firm, will sell the plant`s electric output to the Andhra Pradesh State Electricity Board under a 30-year agreement.
CMS has also acquired a 32.5 percent ownership interest in two Philippine power plants with a 135-MW capacity on the island of Cebu. CMS bought the former Atlas Consolidated Mining and Development Corp. power generation facilities, which included ownership of the 93-MW coal- and oil-fired Carmen station in Barangay Sigpit, 10 miles from the Cebu coast.
CMS also owns the 300-MW coal-fired Magellan project and the 300-MW oil-fueled Luzon project, both of which are expected to close financing and enter construction later this year in Batangas Province in the Phillipines.