Experts say that the Build-Own-Operate-Transfer (BOOT) model would not be suitable for setting up power plants in the country and could lead to complications in the sector.
The experts on October 4 said that that BOOT model would not work for the power sector.
Jindal Power MD and Group CFO Sushil Maroo said the only source of revenue for power projects are electricity utilities. He, along with others, was participating in a convention on 'Standard Bidding Procedures for Case 2/UMPPs', organised by industry body Assocham in Delhi. Ultra Mega Power Projects are have a generation capacity of 4,000 mw. In Case 2, the bidding is done on the basis of specific fuel used, and location.
The Power Ministry has come out with draft norms for UMPPs, and BOOT model for new plants is among the major suggestions. It has sought comments from stakeholders.
SBI Capital Vice President Mukul Modi said that Built Operate Own (BOO) model is better for the power sector than the BOOT. He added that BOOT model would have more complications. As per the draft norms, a project developer has to transfer the assets to the utility after 30 years, which can be further extended by another 10 years.
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