Gayatri Projects today announced that its first power project, Thermal Powertech Corporation India (TPCIL), a joint venture between Gayatri Energy Ventures, & SembCorp, has successfully commenced commercial operation with the completion of its first 660-megawatt unit. The 1,320-megawatt coal-fired power plant comprises two units of 660 megawatts each, with the second unit expected to begin commercial operation in the second quarter of 2015.

The approximately USD 1.5 billion (S$2.03 billion) power plant investment utilises supercritical technology, which allows for enhanced efficiency and reduced emissions compared to other conventional coal-fired power plants, and is located in the coastal town of Krishnapatnam, Nellore, in Andhra Pradesh.

With the completion of this first unit, the plant has begun supplying power to the states of Andhra Pradesh and Telangana, helping to meet the increasing power demand in the southern region and supporting its economic growth. TPCIL has already secured power purchase agreements for 900 megawatts or almost 70% of the plant’s capacity, of which 500 megawatts will be sold under a 25-year agreement with the Andhra Pradesh and Telangana Power Distribution Companies.

Managing Director of Gayatri Projects, T.V Sandeep Reddy commented ''The successful commissioning of operations of the first phase of our 1,320 Mw project is reflective of our executional capabilities. The project built using super critical technology will help meet the growing power demand of the state in an efficient and eco-friendly way. We are hopeful of commissioning the operations of the second phase during the course of the year.''

Shares of the company gained Rs 1.6, or 1.02%, to settle at Rs 158. The total volume of shares traded was 3,620 at the BSE (Monday).