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...