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Government of Karnataka accorded approval in April,
2007 for setting up of a Special Purpose Vehicle (SPV) viz., Power Company of
Karnataka Limited (PCKL) to supplement the efforts of KPCL in capacity addition.
PCKL was incorporated on 20th August, 2007 under the Companies Act, 1956 with an
initial authorized capital of Rs. 5 (Five) crore and commenced its business
operations with effect from 16th October, 2007. Each of the 5 ESCOMs have
invested a sum of ` One crore each in PCKL which includes Rs 1(One) lakh towards
Equity Share Capital and Rs. 99 (Ninety Nine) lakh towards seed money.
PCKL is responsible for capacity addition by way of setting up of new power
projects through bidding process, under Case-II bidding guidelines issued by
Ministry of Power, GOI and long term procurement of power under Case-I bidding
guidelines of MoP, GoI. In order to bridge the short term demand and supply gap,
PCKL has been procuring power on behalf of the ESCOMs from various sources
including purchase of power through Energy Exchange, Banking (SWAP) as well
bilateral transactions. PCKL also co-ordinates with other States and Central
Government agencies on power related issues as well as through the forum of
SRPC( Southern Regional power Committee). ...Read
in detail...
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