Udupi, Sep 1 (DHNS): The Udupi Power Corporation Limited (UPCL), a subsidiary of Adani Power Limited, has commenced acquisition of 724 acres to set up two more units of 800 MW each at a total cost of Rs 11,500 crore.

UPCL executive director Kishore Alva told the media on Wednesday that out of the 724 acres, the main plant would come up on 168 acres. While 280 acres would be set aside for a green belt and coal handling plant, 276 acres would be used setting up the ash pond.

UPCL has already acquired 69 acres and is going for a final price fixation for the remaining 555 acres, Alva said. The project is expected to be complete by 2020. While Rs 18 crore has already been deposited with the KIADB towards land acquisition, Rs 50 crore has been disbursed as compensation.

Noting that Adani UPCL is paying a compensation of Rs 40 lakh per acre to the land losers for Phase II, Alva said that it is a record in the history of land price fixation in the state.

In addition, the land losers are paid the appreciated values for their structures, horticultural crops and forest trees. Also one or two family members of land losers are given jobs depending on their educational qualification.

At present, the UPCL is operating its thermal power plant with two units of 600 MW each in Yellur and Santhuru villages of Udupi district, meeting 28% of the total requirement (8,000 MW) of electricity of entire state. When completed, UPCL will be supplying 2,800 MW power to the state, the highest by any private power producers.