PROJECT BLUE desires to develop, procure, finance, construct, own, operate and maintain a gas based 1134 MW ISO (990 MW at site) combined cycle power plant at Bombay, India. The site for the power plant is presently being negotiated with the landowners (600 Acres). Power Purchase Agreement (PPA) is being negotiated with the Power Trading Corporation of India for the purchase of the electrical output of the plant for a period of Fifteen (15) years and Ten years (10) option. Initial rounds of negotiations have produced a draft PPA & Tariff. Final negotiations and finalizing the Tariff for fifteen years is scheduled for end of June 2009.