Nike Free Run Reliance to set up two 100 MW GCPPs for MIDC
Maharshtra Industrial Development Corp has decided resolve the problem of the industrial estates of Thane Belapur and Butibori Hingna to cater to units suffering from erratic and poor quality power supply by setting up Group Captive Power Plants in those industrial estates. MIDC has selected Reliance Energy to set up those power plants. The GCPPs would be run with active participation of the consumers and a Special Purpose Vehicle (SPV) would be floated for this purpose. Consumers would hold 26 per cent equity while the balance would Nike Free Run be held by the generating company REL, which would be free to raise additional capital from the market. The Rs.7000 million project is a part of MIDC initiative to tide over frequent power cuts by the Maharashtra State Electricity Board (MSEB) in industrial areas.
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