Monthly Archives: January 2011

NTPC Q3 net almost unchanged despite an over 18 per cent rise in revenue news

National Thermal Power Corporation Ltd (NTPC) has posted a net profit of Rs2,371.48 crore for the quarter ended 31 December 2010 against a net profit of Rs2,364.98 crore in the quarter ended 31 December 2009.

NTPC, the country’s largest power sector utility, said its total income has increased by 18.43 per cent to Rs14,165.90 crore during the quarter ended 31 December 2010 against Rs11,961.31 crore during the quarter ended 31 December 2009, unaudited results released by the state-controlled company showed.

The rise in net profit, although modest and coming from a revision in depreciation policy, comes against wider analyst expectatons of a decline in NTPC’s profitability.

NTPC, which failed to meet capacity-addition targets last year because of equipment delays, now plans to accelerate construction of plants. The power utility is planning to buy equipment worth around $36.6 billion over the next two years to ramp generation capacity.

The NTPC stock closed 1.5 per cent lower at Rs189.05 in Mumbai ahead of announcing the results. The stock has dropped 12 per cent in the past year compared with a 12 per cent increase in the BSE Sensex.

NTPC and its allied units have total installed capacity of 33,194 megawatts, according to the company website.

India, with current installed capacity of 169,749 megawatts as of end-December 2010, is targeting an increase to 200,000 megawatts by 2012.

ADB to invest USD 242 million in power sector

The Asian Development Bank has signed an agreement to invest USD 242 million in improving power distribution system in Pakistan.

The investment is part of USD 810 million Power Distribution Enhancement Investment Program approved in 2008. The mult tranche financing facility targets investment in priority areas to reduce power losses and increase the reliability of the power distribution system.

Mr Rune Stroem country director at ADB and Mr Sibtain Fazal Halim secretary economic affairs division signed the agreement. Deputy Director General of ADB’s Central West Regional Department Mr Werner Liepach was also present on the occasion.

Mr Rune Stroem said that energy conservation and energy efficiency is the fastest and cheapest way of increasing electricity supply. This project will not only reduce electricity lost during delivery to the customers but also improve the quality of service by helping to get rid of technical bottlenecks.

The project comprises physical investments in secondary transmission grid and will include addition of 3,380 megavolt amperes of transformer capacity and 387 kilometers of new distribution lines.

Ethiopia beckons Indian firms to invest on mining sector

Ethiopia today sought investments from Indian companies in the mining sector, as the African nation”s natural resources remain widely unexplored.

“I would like to invite you all to invest in the mining industry of Ethiopia for the mutual benefit,” Ethiopian Mines Minister Sinkinesh Ejigu said at a function organised by Ficci here.

Stating that Ethiopia”s mineral and geo-energy resources were yet untouched and unexplored, she said, adding that this provides sufficient potential to accommodate the interest of investors.

“My ministry is committed to assist all developmental partners interested to take part in the investment of the mining sector,” Ejigu said.

Spread across 1.1 million sq km area with a population of about 80 million, Ethiopia has created a conducive environment to ensure and promote private investment in the mining sector, which has the potential to play a big role in the development of the national economy.

“About 84 local and foreign mining firms are currently carrying out mineral exploration and mining operations in different parts of the country. The scale of exploration and mining operations, however, are very low despite the favourable geological environment for mineral potentials,” she added.

The mineral and petroleum explorations conducted so far on limited parts of the country have come up with significant discoveries and reserves of gold, platinum, tantalum, potash, phosphorus, iron, salt, coal, geothermal and natural gas in different parts of the country.

Around 376 million tonnes coal reserve is estimated in Ethiopia. The coal deposits range from lignite to bituminous. The country has the potential to generate more than 5,000 MW from its geothermal energy resource where only 7.3 MW power is being produced at a pilot plant, she added.

Source – PTI

Power dept eyes loan from World Bank

Buoyed by Asian Development Bank’s second tranche of $ 200 million to revamp the power scenario in the state, the power department has started negotiating with World Bank for more financial assistance. “Negotiations with the World Bank for a $ 400 million loan have reached an advanced stage,” power minister Pradyut Bordoloi told the third Eastern Region Summit of Indian Electrical and Electronics Manufacturers’ Association (IEEMA) here on Friday. “We have successfully utilized the amount that we took from the Asian Development Bank in reforming the power sector in the state. So, the bank has come forward with it second tranche of 200 million. Now, we are very close in clinching the 400 million loan from the World Bank,” Bordoloi said. With the state power sector set to go for major improvement in days to come, the power minister has appealed to the Indian Electrical and Electronics Manufacturers’ Association (IEEMA) to play a proactive role by bringing in cost-effective technologies and boost power generation in the northeast. IEEMA is the representative national organisation of manufacturers of electrical, professional electronics and allied equipment having over 550 members. The first phase of reforms in the state power sector began since 2001. Assam State Electricity Board (ASEB) chairman S C Das said a perspective plan envisaged an investment of Rs 3,000 crore for transmission and Rs 1,600 crore for distribution in the next few years. The power scenario is set for improvement within five years with a number of power projects coming up in the northeast. “The 750 MW thermal power project in Bongaigaon, the gas-based project at Palatana in Tripura, the 1,200 MW Subansiri hydel project in Arunachal Pradesh, the 500 MW coal-based project in Margherita and the 150 MW hydro-project in Karbi Anglong will significantly contribute to the state’s power scenario,” the ASEB chairman said. “The peak power demand has increased from 550 MW in 2001 to about 1,100 MW at present. If we take the suppressed demand into consideration, then it will range between 1,300 MW and 1,400 MW. Our consumer base is also set to increase from 18 lakh at present to about 30 lakh by March 2012. This can be possible by providing BPL families greater access to electricity,” Das added. IEEMA president Vimal Mahendru said their Northeast Vision 2020 “calls for healthy investment in the power sector because of the region’s immense hydro-power potentiality”.
“Since the power sector reforms began, ASEB has been able to pay all outstanding. Today, we have no liabilities. Even our aggregate transmission and cost loss of power have been brought down to 30 per cent from 45 per cent,” Das said.

Source – TOI

CIL asked to relax bank guarantee clauses for import

Global coal miners have suggested amendments — especially with regard to the bank guarantee clauses — in the tender documents for participation in the 10-year thermal coal off-take (import) programme of Coal India Ltd (CIL).

The Indian coal major is expected to finalise the tender document by end-February, based on the feedback received at a pre-bid meeting held in Kolkata, on Saturday.

According to industry sources, almost all the companies that attended the meeting felt that CIL had proposed steep bank guarantee clauses which could prevent their participation in the proposed tender.

It is learnt that during the meeting, CIL placed a roadmap to import a minimum of 10 million tonnes (mt) of coal from Australia, Indonesia, South Africa and the US, beginning 2011-12.

The off-take quantity may increase up to 20 mt a year, depending on requirements of the Indian power sector.

While the actual value of the contract will be discovered through a competitive bidding process, the Indian major is looking forward to striking long term-agreements at a minimum of 10 per cent discount to the index-price – the benchmark price for global coal trades.

The pre-bid meeting was organised based on 29 select proposals (for long-term export agreements from specific assets in the said four countries) received from 15 companies. Three companies, including Foresight Energy, Alpha and Novem, reportedly skipped Saturday’s meeting.

Among those who attended the meet are: India’s Adani group, Rio Tinto, Xstrata, Anglo American, Peabody, Massey Energy, Arch Coal, Murray Energy and Sinarmas.

Adani group is a major Indian investor in the coal mining sector in Indonesia and Australia.

The group is actively pursuing a number of long-term coal supply proposals from its overseas assets to Coal India.

It may be mentioned that based on the EoIs received, CIL divided the proposals in to two categories depending on the calorific value of coal.

While the bulk of the proposals received were for supplies of coal below 5,000 kilo-calorie a kg, CIL would consider only higher heat value (over 5,500 kcal) coal for supplies from far-flung places to offset the high freight cost.

Source – Business Line

Gujarat – 300 per cent hike in deposits for new connections

Gujarat Urja Vikas Nigam Limited (GUVNL) has hiked the deposit for new connections for its urban consumers by 300 per cent. The hiked deposits are part of the new Multi-Year Tariff Regulation (MYTR), effective from January 1, officials at the GUVNL headquarters in Vadodara said. According to the new tariff, each new electricity connection will cost Rs 3,900 as against the earlier Rs 1,000.

The decision, according to top GUVNL officials, is aimed at removing disparity. No public opinion on the hike was sought at any forum and it has been cleared by the Gujarat Electricity Regulatory Commission.

The new regulation says that new customers will have to pay a fixed deposit of about Rs 3,200 and, depending on the consumption of electricity, the consumer would either be given the money back or charged extra at the end of the financial year.

While there has been no reaction from other parts of the state, a former MS University student leader and chairperson of Jaago Vadodara Jaago organisation has decided to protest against the decision, which he said will affect slum dwellers to a great extent.

GUVNL officials maintain the decision was taken after considering the financial aspects, and that it would help the new customers to a great extent.

“It is true that the new customers will have to pay an amount which will be same for everyone but it is part of the Multi Year Tariff Regulation passed by the GERC which has been implemented from January 1. While it may look like the citizens would have to pay more but if we go by the records furnished by the finance department it would actually help the customers. As per the earlier system, a new customer was suppose to pay the variable amount depending on the feasibility and proximity to the existing set up but now it will be same for everyone,” said P H Rana, GUNVL Director Technical.

Rana said, “The old customers would continue to pay their bills the way they have been paying till now. It is only the new consumers who would be asked to pay the fixed amount. These calculations were made before implementation of this scheme and it has already been practised by the private power companies. Those consumers who were forced to pay large amount due to distant proximity to the existing set up would be benefiting.”

Narendra Ravat, who is leading the Jaago Vadodara Jaago, maintained that the decision would deprive the urban poor from getting the electricity connections.

Source- Indian Express

Maharashtra power regulator orders takeover of cooperative

The Maharashtra Electricity Regulatory Commission Thursday ordered the state’s only cooperative sector power distribution company, Mula Pravara Electric Cooperative Society (MPECS), to hand over operations to a state-owned company for failing to pay up arrears of Rs.2,300 crore.

As per the order, the MPECS will be required to hand over all its operations to theMaharashtra State Electricity Distribution Company Limited (MSEDCL), as it has failed to pay its arrears of electricity purchase bills to the latter since 1977.

The MERC order, signed by its chairman V.P. Raja, member V.L. Sonawane and secretary K.N. Khawarey, will come into effect Feb 1, according to an official.

The MERC has also amended the distribution licence of the MSEDCL to include the existing jurisdiction of the MPECS, from next month.

The MPECS has been supplying electricity to 183 villages spread over an area of nearly 1900 square km in five sub-districts of Ahmednagar, over the past few decades.

These include Shrirampur, Rahuri, Nevasa, Sangamner and Rahata sub-districts of Ahmednagar, which have been getting electricity from the cooperative power company since 1970.

The move comes as a major political setback to the prominent Vikhe-Patil family of Ahmednagar. Balasaheb Vike-Patil from the family is a former union minister and his son Radhakrishna is a member in the state cabinet.

The family is the founder of the MPECS. The father-son duo is the prime mover of the controversial cooperative society, which has over 1.70 lakh members.

Source – IANS

TEECL developes 950 mw of wind energy by 2017

Kolkata, Jan 27 : Techno Electric and Engineering Company Limited (TEECL), a leading private sector power generation, transmission and distribution company, has diversified into non-conventional energy sector to produce 950 mw of wind power by 2017.

This was announced here today by TEECL Managing Director P P Gupta while disclosing the company’s third quarterly financial results.
Referring to his future plans in the wake of the country’s huge demand for electricity and gradual waning of the supply of raw materials like coal, Mr Gupta said since they diverted their business interest to the generation and distribution of non-conventional energy, particularly the wind energy and those based on bio mass, TEECL had chalked out an elaborate plan for the generation of at least 950 mw of power by the end of the 12th five year plan(2017).

Accordingly, TEECL had embarked on two non-conventional energy based projects at Tinnalvelli in Tamil Nadu and at Kutch region in Gujarat for generating 125 mw and 75 mw respectively of wind energy.

” While the Tamil Nadu project would be completed by May/June this year, the one in Gujarat would take another ten to twelve months for commissioning,” Mr Gupta informed.

About the size of investment for the two projects, Mr Gupta said of the Rs 1150 crore required for them, Rs 750 crore would be borrowed from the IFC, Washington, and some foreign banks, while the remaining Rs 400 crores would be raised through equity later this year.

About the company’s interest in bio mass projects, Mr Gupta said they had taken up five small scale projects of 20mw and ten mw each at West Dinajpur(West Bengal),Birbhum, Sambalpur, Madhya Pradesh and Rajasthan for the next three years at at total cost of Rs 250 crore.

Referring to the company’s limited exposure in hydro-electric projects, Mr Gupta said two such projects were underway in north Sikkim and in Arunachal Pradesh of 25 mw each. Both of them were likely to be completed by 2014, he said.

About the financial performance of the company which had recorded a slight dip in net profitability in the third quarter vis a vis the second quarter, Mr Gupta said with work order of Rs 1250 crore still remaining in hand, their profit margin was expected to jack up from Rs 200 crores last year to around Rs 1,000 crore by 2017-18.
Source – UNI

Adani Power

Industry Name: Power – Generation/Distribution

House Name: Adani Group

Incorporation Date: 22/08/1996


Management (Adani Power Limited)

Name Designation
Ameet H Desai Executive Director
B B Tandon Director
Chinubhai R Shah Director
Gautam S Adani Chairman / Chair Person
Prabal Banerjee Chief Financial Officer
R K Madan Director
Rahul C Shah Company Secretary & Compliance Officer
Rahul C Shah Secretary
Rajesh S Adani CEO
Rajesh S Adani Managing Director
S K Tuteja Director
Vijay Ranchan Director

Mission

To assimilate knowledge, develop capabilities and manage collective enterprise to profitably tap global commercial opportunities and advantages for the benefit of stakeholders and society.

Vision

  • The Company was incorporated as Adani Power Limited on August 22, 1996 and received a certificate of commencement of business on September 4, 1996. The Company became a private limited company on June 3, 2002 and the name of the Company was subsequently changed to Adani Power Private Limited. The RoC issued a fresh certificate of incorporation on June 3, 2002.To be driven by excellence at all levels
  • To approach all aspects of the business innovatively
  • To be intensely competitive in all endeavours
  • To constantly raise the bar
  • To be a globally preferred business associate
  • To be committed to the welfare of employees and stakeholders
  • To adopt universal best practices in corporate governance
  • To be a responsible business entity towards society and the environment

Adani, a conglomerate with a formidable presence in multiple businesses across the globe, has entered the power sector to harbinger a ‘power full’ India, by generating 20,000 MW of power by 2020. Our comprehension of the criticality in meeting the power requirement and its crucial role in ensuring the energy security of India, spurs us to build India’s largest and one of the world’s top 5 single location thermal power plant in Mundra.

Along with thermal power generation, Adani power has made a paradigm shift by venturing into Solar power generation in Gujarat. It is Adani’s endeavour to empower one and all with clean, green power that is accessible and affordable for a faster and higher socio-economic development. We are achieving it with our out-of-the-box thinking, pioneering operational procedures, motivated team and a yen for trendsetting. Our enthusiasm and energy has earned us accomplishments that make us the FIRST, FASTEST AND LARGEST power company in many aspects.

It is Adani that synchronised India’s FIRST supercritical power generation unit of 660MW at its Mundra Power Plant. Mundra is also the WORLD’S FIRST supercritical technology project to have received ‘CLEAN DEVELOPMENT MECHANISM (CDM) Project’ certification from United Nations Framework Convention on Climate Change (UNFCCC).

Adani power has the FASTEST turnaround time of projects in the industry.

Poised to be the LARGEST private power generating company in India.

To ascertain a potent presence across the value chain within the industry, Adani has also forayed into power transmission. The first power transmission project of 400KV Double Circuit Transmission System from the Mundra plant to Dehgam (430 kms) has been realised with two more in the implementation stage. We are currently implementing nearly 1000 km long high voltage DC double circuit line connecting Mundra power station to Northern India. This will be commissioned by March 2011. This is the first private sector HVDC transmission project in the country ensuring free flow of power between Western India and the Northern Hinterland.

The advantageous edge Adani has, is the national and international coal mining rights with its promoter Company Adani Enterprises Limited which ensures fuel security. Vertical integration within the Adani group shall provide synergies to the power business and catapult it to electrifying heights of success.

The Company was, thereafter, converted into a public limited company on April 12, 2007 and the name of the Company was changed to Adani Power Limited. Further, upon ceasing to be a private limited company, the word private was deleted through a special resolution at the EGM of the Company held on March 28, 2007. The fresh certificate of incorporation consequent to change of our name was granted by the RoC to our Company on April 12, 2007.

The Company was originally incorporated by Mr. Gautam S. Adani and Mr. Rajesh S. Adani, together with their relatives. In 2004, pursuant to internal restructuring amongst the Promoters, the entire shareholding of the Company was transferred to Mundra Port and Special Economic Zone Limited (“MPSEZL”). Subsequently, on May 29, 2006, MPSEZL transferred its entire shareholding in the Company to Adani Enterprises Limited.

Power Generation
Mundra Thermal Power Project

Location : Mundra, District Kutchh, Gujarat, India
Capacity : 4620 MW
Phase I – 2 x 330 MW
Phase II – 2 x 330 MW
Phase III – 2 x 660 MW
Phase IV – 3 x 660 MW

The Mundra Thermal Power Project was conceived for the captive consumption of the Mundra Port & SEZ, thereafter the vision and the capabilities of the promoters shall make the Mundra Power project on completion, the largest single location Coal based Thermal Power Station in India and one of the top five in the World. With the synchronization of Unit 1, Adani Power Limited proved its project execution skills by developing Greenfield coastal power project in a short span of 33 months from the date of NTP.

At present all the four units of Phase I and Phase II based on subcritical technology have been commissioned and are Commercially Operational.

We are proud to state that Adani Power created history by synchronizing the first-ever super-critical technology based 660 MW turbine (Unit 5 of Phase III) in India at Mundra. This is not only the first super-critical turbine in the country but what makes it special is that this has been synchronized within 36 months from the inception, which is the fastest implementation ever by any power developer in the country.

The entire project is scheduled to be fully operational within the XIth Five Year Plan (2007-2012).

Further the project being at a coastal location shall use sea water with the implementation of a desalinization unit, making efficient use of the water resources of India.

The Phase III of the Mundra Project, which is also based on supercritical technology, has received ‘Clean Development Mechanism (CDM) Project’ certification from United Nations Framework Convention on Climate Change (UNFCCC). This is the world’s first project based on super-critical technology to get registered as CDM Project under UNFCCC. This state-of-the-art supercritical technology is 25% more efficient than conventional sub-critical power plants and enables 20% reduction in CO2 emission.

Tiroda Thermal Power Project

Location : Tiroda, District Gondia, Maharashtra, India
Capacity : 3300 MW
Phase I – 2 x 660 MW
Phase II – 1 x 660 MW
Phase III – 2 x 660 MW

The Tiroda Thermal Power Project of 3300 MW is being set up by Adani Power Maharashtra Ltd (APML), a subsidiary of Adani Power Limited. In line with our commitment to the environment all the units are based on supercritical technology. The construction activities are in full swing and the first three units of the project are planned to be commissioned within the XIth Five Year Plan (2007-2012) and the balance two units in the first year of the XIIth Five Year Plan (2012-2017).

With the completion of the Phase I and Phase II project Adani shall be making the largest capacity addition in the Indian power sector in the XIth five year plan (2007-2012) with a cumulative capacity of 6600 MW.

Kawai Thermal Power Project

Location : Kawai, District Baran, Rajasthan, India
Capacity : 1320 MW

The Kawai Thermal Power Project of 1320 MW is being set up by Adani Power Rajasthan Limited, a subsidiary of Adani Power Limited. In line with our commitment to the environment all the units are based on supercritical technology. The state of Rajasthan shall be the beneficiary for the entire power generated from the project. We are prepared to commence construction activities at the project site and the project is planned to be commissioned in the first year of the XIIth Five Year Plan.

Pench Thermal Power Project (Upcoming)

Location : Chhindwara, District Chhindwara, Madhya Pradesh, India
Capacity : 1320 MW

The Pench Thermal Power Project of 1320 MW is being set up by Adani Pench Power Limited, a subsidiary of Adani Power Limited. In line with our commitment to the environment all the units are based on supercritical technology. The project is in advanced stage of development and the project is planned to be commissioned in the second year of the XIIth Five Year Plan.

Dahej Thermal Power Project (Upcoming)

Adani Power Dahej Limited a subsidiary of Adani Power Limited is implementing at a coastal location, near the port of Dahej, in the industrial district of Bharuch in Gujarat, a thermal power project with an aggregate capacity 2640 MW. The project is advanced stage of development.

Bhadreshwar Thermal Power Project (Upcoming)

Kutchh Power Generation Limited a subsidiary of Adani Power Limited is implementing at a coastal location, near the port of Mundra, in district Kutchh in Gujarat, a thermal power project with an aggregate capacity 3300 MW. The project is advanced stage of development.

Power Transmission
APL has already developed and commissioned 400 KV D/C dedicated Mundra – Dehgam transmission line of 430 Kms, which is the longest dedicated transmission line by private sector.

APL is also setting up another 1000 Kms ± 500 KV HVDC transmission system for supply of power to HPGCL. This will be the first HVDC transmission line by private sector in the country. Along with this, APL is also developing a dedicated 50km 400kV Mohindergarh-Bhiwani transmission line for supply of power to HPGCL.

Adani Power Maharashtra Limited (APML), a subsidiary of APL, is developing a 221km 400kV Tiroda-Warora Transmission Line as an Intra-state transmission licensee to evacuate power from APML’s Tiroda Power Project.

Solar Power
APL is also setting up a 100 MW solar power project at Surendranagar in Gujarat. A PPA has been executed with Gujarat Urja Vikas Nigam Limited for 40 MW in the first phase. Land acquisition is under progress. The project is planned to be commissioned within the XIth Five Year Plan.

Key Milestones

The table below sets forth some of the key events and milestones in the history of our Company:

Time Line of Adani Power

  • August 22, 1996 Incorporation of the Company
  • September 20, 2006 Execution of Loan agreement (financial closure) with Lenders of Mundra Phase I Power Project.
  • December 8, 2006 Coal supply agreement with AEL for Mundra Phase I Power Project, which was extended to Mundra Phase II Power Project through amendment agreement dated August 10, 2007
  • February 2, 2007 Execution of PPA with GUVNL for 1,000 MW
  • February 6, 2007 Execution of PPA with GUVNL for 1,000 MW
  • June 27, 2007 Execution of subordinate loan agreement for Mundra Phase I and II Power Project
  • July 25, 2007 Execution of Loan agreement (financial closure) with Lenders of Mundra Phase II Power Project
  • September 28, 2007 Execution of Investment Agreement with 3i Power Investment A1 Limited
  • November 6, 2007 Allocation of Lohara West and Lohara Extension (E) Coal mining blocks for Tiroda Power Project
  • January 15, 2008 Execution of Shareholder Agreement with Millennium Developers Private Limited for investment in Tiroda Project
  • February 1, 2008 Agreement to Lease for 204.28 ha signed with Maharashtra Industrial Development Corporation for Tiroda Project
  • March 24, 2008 PPA with AEL for 221 MW
  • March 24, 2008 Coal supply agreement with AEL for Mundra Phase III Power Project
  • March 27, 2008 Execution of loan agreement (financial closure) for Mundra Phase III Power Project
  • March 27, 2008 Execution of subordinate loan agreement for Mundra Phase III Power Project
  • March 28, 2008 Execution of foreign currency loan agreement for Mundra Phase III Power Project
  • April 15, 2008 Coal supply agreement with AEL for Mundra Phase IV Power Project, which was amended on April 13, 2009
  • August 7, 2008 PPA with UHBVNL for 712 MW
  • August 7, 2008 PPA with DHBVNL for 712 MW
  • September 8, 2008 PPA with MSEDCL for 1,320 MW
  • November 24, 2008 Investment Agreement with Ventura Power
  • January 8, 2009 Co-developer agreement with MPSEZL
  • January 30, 2009 Execution of loan agreement (financial closure) for Tiroda Power Project – Phase I
  • March 25, 2009 Boiler light-up of unit I of Mundra Power Project – Phase I
  • March 27, 2009 Share subscription agreement with Somerset Fund
  • May 23, 2009 Synchronization of unit I on Mundra Phase I Power Project
  • June 24, 2009 Execution of loan agreement (financial closure) for Mundra Phase IV Power Project
  • June 24, 2009 Execution of subordinate loan agreement for Mundra Phase IV Power Project.
  • 2010

- Adani Power Ltd has appointed Mr. R. K. Madan as an Additional Director in the category of Non Executive-Non Independent Director w.e.f. March 20, 2010 by the Board of Directors of the Company.

- Adani Power Limited was awarded KPMG INFRASTRUTURE TODAY AWARD 2010 for successfully generating over 1000MW power as per the committed deadline.

Postal Address
Adani Power Limited
Sambhav Building
Judges Bungalow Road , Bodakdev
Ahmedabad – 380 015 , Gujarat , India

Contact Details
Contact Number : +91 79 25556900
Fax No: + 91 79 25557177

Email : info@adanipower.com

JP Power first unit of 1000 MW project in HP to go on stream in March

Jaiprakash Power Ventures Limited will commission the first unit of its 1,000 MW hydroelectric power project in Himachal Pradesh in March six months ahead of schedule.

Mr Suren Jain MD of Jaiprakash Power Ventures said that rhe first unit of the INR 7,000 crore Karcham-Wangtoo hydro project, the biggest hydropower plant to be commissioned in the current five year plan, will start generating 250 MW of electricity by March, and the other three would start functioning by June.

Company official said that early commissioning of the project would help the company make use of the summer and monsoon period, when higher flow of water boosts hydroelectric generation, company officials said. This will be the third hydroelectric project of Jaiprakash Power Ventures, part of the Jaypee Group.

It had earlier built 300 MW Baspa project in Himachal Pradesh and 400MW Vishnuprayag project in Uttarakhand. Jaiprakash Power Ventures has tied up with Power Trading Corporation of India to sell 80% of the electricity produced at the Karcham-Wangtoo project.

Mr Jain said the project would generate 3.5 million carbon credits every year. He said that “We are getting a 25% return on equity on a sustainable basis.”

After having established a presence in the hydropower sector the company has initiated its entry into thermal power generation, power transmission and also forayed into wind power.
Mr Jain said that the company plans to spend about INR 45,000 crore by 2015 on various power projects including hydropower and thermal electricity, Mr Jain said. He said the company had adequate funds for its ongoing projects this year but it may raise up to INR 2,500 crore after March 2012 for its expansion plans. The company aims to produce 13,720MW of electricity by 2019 through a mix of hydro and thermal projects.

The company plans to set up four thermal plants, two each in Uttar Pradesh and Madhya Pradesh by 2015. These plants will together generate 6,120 MW of power using super-critical technology.

Source – Economic Times

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