GIFT in talks with GSPC to set up 200-MW power plant

The Gujarat International Finance Tec-City (GIFT) is in talks with Gujarat State Petroleum Corporation (GSPC) to set up a 200-MW gas-based power plant in its 886-acre campus. The power sourced from the plant will be treated as a back-up power for GIFT, which is expected to require 800 MW of power when fully complete.

"We are planning to tie up with GSPC to set up a power plant within GIFT. The talks are currently on," said Ramakant Jha, director of GIFT, a Rs 78,000-crore under-construction project that aspires to become an operations hub for international banking and financial services.

The initial capacity of the power plant will be about 5 MW (mega watt) which will later be scaled up to 200 MW.

"Though we will source most of the 750-800 MW of power through GETCO (Gujarat Energy Transmission Corporation Limited), there is a need for another source of power. This plant will provide the necessary back-up power to certain services like data centre, lifts, fire-safety, etc," said the official about the power requirements of the project that is currently described as the lone International Financial Service Centre (IFSC) in the country.

"The gas-based power plant will occupy minimal space and will also be eco-friendly," Jha said.

GIFT currently requires only 2.5 MW of energy, which it is sourcing from UGVCL (Uttar Gujarat Vij Company Ltd). "By October this year, when the district cooling system (DCS) starts functioning, we will be requiring about 12 MW of power," Jha said about a system that is said to be the country's first DCS, providing air-conditioning to multiple users through an underground piping network. Dubai-based ETA Engineering has already begun work of the DCS.

The GIFT project currently has two 29-storey towers, one of which was launched earlier this year. The second tower is expected to be ready by the end of July.

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