MP Power Management Company signs contract to purchase 218.98 MW Power

• 24 Jul 2023

Why in News?

According to the information given by the Public Relations Department of Madhya Pradesh on July 21, 2023, MP Power Management Company signed a power purchase agreement to purchase 218.98 MW of power from the Kakrapar Nuclear Power Project in Gujarat.

Key Points:

• The power purchase agreement was signed by Shailendra Janardan, Chief General Manager (commercial-conventional) of MP Power Management Company and SK Rai, director of Kakrapar Nuclear Power Project on behalf of Nuclear Power Corporation of India Limited.
• India's first indigenously built 700 MW nuclear power reactor has been installed at Kakrapar Nuclear Power Project (Unit-3) in Gujarat. The unit has commenced commercial power generation on June 30, 2023.
• Unit-4 of the project is expected to start generating power from February 2024 next year.
• This is an important step in India's nuclear energy program. This will help meet the country's growing energy demands through clean and reliable nuclear energy. In the power purchase agreement signed by the power management company, electricity will also be supplied to Madhya Pradesh.
• In the Nuclear Power Purchase Agreement, Madhya Pradesh has started getting this electricity at a continuous (24×7) cheaper rate from June 30 at the rate of only Rs 4.40 per unit (single part tariff). This power from Kakrapar Nuclear Power Project will prove useful in providing high-quality power to the consumers of the state.