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The Enron Saga
In Quest of Power
In June 1992, a team of officials of the Government of India (GoI) toured the USA with the aim of inviting power producers in the USA to invest in India.1 Prior to this, the government drew up a list of projects in which the private sector could participate... In addition to the coal based projects, (Refer Exhibit II) there were two or three gas-based projects in the list. The Enron Corporation showed interest in setting up a power station in India based on the import of Liquefied Natural Gas (LNG).Enron was one of the world's leading power companies and figured in the list of the 500 largest corporations in the USA. In 1993, Enron's total sales stood at US$ 7.1 billion (Rs. 22,000 crore). |
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At the time of coming to India,2 Enron's experience in building and running power stations was limited to a few stations in the US and the Philippines. (capacities ranging from 28, 105 and 110 MW stations in the Philippines and a 110 MW station in Puerto Rico, to 149 to 450 MW plants in the USA). In India, the size of the proposed station would be 2500 MW.
