Agartala: ONGC-Tripura Power Company (OTPC), a gas-based electricity generation entity in the northeastern region, has received environmental clearance from the Centre for setting up its third plant, an official said on Friday.

The biggest gas-based power company in the region currently has two facilities with a total capacity of 726 MW at Palatana in Tripura’s Gomati district.

The third unit will have a power generation capacity of 363 MW, OTPC managing director SC Namboodiripad said.

“We need 1.5 million standard cubic metres per day of gas and are in talks with ONGC for allocation and pricing of the resource. We are optimistic about the project and have received environmental clearance from the Centre,” he said.

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The power company, which has been catering to the northeastern states and neighbouring Bangladesh, has achieved a revenue of over Rs 150 crore in the 2020-21 fiscal, Namboodiripad said.

ONGC along with Infrastructure Leasing and Financial Services Ltd (IL&FS) and the Tripura government had formed the special purpose vehicle by entering into a shareholders’ agreement in 2008.

The Centre has allocated more than 58 per cent of power from the project to the northeastern states -Assam (240 MW), Tripura (196 MW), Meghalaya (79 MW), Manipur (42 MW), Nagaland (27 MW), Arunachal Pradesh and Mizoram (22 MW each), and 98 MW is allotted to OTPC for merchant sales, the official said.

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