Vince/Vasant,

It has been some time since we spoke at the San Antonio conference.  
Unfortunately,as soon as I got to India I was diagnosed wih a slip disc and 
had to be in bed for a long time.

In the mean time the team continued to work on the concept of a sale to 
another state out of the Dabhol plant.  I have developed the concept whereby 
we are now looking at a firm component (over peak period), and an infirm 
power sale during the monsoon.

The series of quesions and comments from my team in te attachment below 
should help you a bit to get a feel for the proposal.  I am currently in 
Houston and reachable at 281-345-9870.  I maybe needing a surgery for the 
slip disc but am currently on medication hoping that surgery won't be needed.

I would like to wis you all a very happy X'Mas and a Great New Year, and will 
catch you in the NEw YEar in Houston to discuss this wit you further.  I can 
see that soem structuring help will be needed on this, and would like to get 
some help from your end.

Regards,
Sandeep.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on 
12/25/99 10:17 PM ---------------------------


Sandeep Kohli
12/25/99 10:06 PM
To: Rajesh Sivaraman/ENRON_DEVELOPMENT
cc: Vivek Kejriwal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Shubh 
Shrivastava/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Anshuman 
Srivastav/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 
Subject: Re: Firm Power sale from Phase I - Issues  



Team,

Please find my comments in the word document attached. 

Please go through this and run the sensitivities and get a good idea of way 
to structure thsi.  Having gone through the comments, I feel that it maybe 
necessary to get some help on the structuring side.  I will try to get you 
some structuring expertise asap.  In the mean time, I would like you all to 
focus on getting resources together and working this to the next pass.

Lets see where we can get with this.

Regards,
Sandeep.



Rajesh Sivaraman
12/24/99 10:06 PM
To: Sandeep Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Vivek Kejriwal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Shubh 
Shrivastava/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Anshuman 
Srivastav/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 
Subject: Firm Power sale from Phase I - Issues

As discussed, please find enclosed  a word document which essentially 
discusses most of the issues involved with a Firm Power sale of 50 MW from 
Phase I, which would have to be sorted out with MSEB. 

Vivek & I have also worked out a methodology for computing tariff for this 
firm power sale during the peak period. In doing this, we have tried to keep 
the tariff formula as simple as possible, while simulating the PPA tariffs to 
the extent possible. (Currently, we have just shown the tariff computation; 
will put the tariff formula in the next mail)

The tariff structure & the issue list obviously need further refinement, 
before we discuss it with MSEB.

Looking forward to your comments on both the issue list as well as the tariff 
computation.




regards,

Rajesh S