Reliance Power to double capacity of thermal plants in UP and Maharashtra

Reliance PowerBSE 0.88 % will double the potential of its Rosa electricity plant in Uttar Pradesh to 2,four hundred MW and Butibori electricity plant in Maharashtra to one,two hundred MW, the organisation's chairman stated. 

Reliance Power to double capacity of thermal plants in UP and Maharashtra

The corporation may even set up a solar photovoltic plant of as much as 400 MW capacity in coming years, Anil Ambani informed shareholders on Tuesday at the same time as addressing the twenty second Annual preferred assembly of Reliance energy. He, but, stated the employer will have a look at future opportunities with caution.

"In the near destiny, we are able to extend the potential of our two existing thermal plant life at Rosa in UP and Butibori in Maharashtra from the prevailing 1,200 MW and six hundred MW respectively.", Ambani brought. The employer is pursuing other opportunities, which include setting up a three hundred-four hundred MW sun plant. 

Ambani stated the organization has finished segment I of its Rs 50,000 crore capital expenditure programme. The organisation has an running capability of 6,000 MW. Reliance strength is in talks with clients of its Krishnapatnam extremely mega strength challenge (UMPP) in Andhra Pradesh for a mutual consent to desert the undertaking with the intention to reduce its capex requirement by means of Rs 20,000 crore. 

In April 2015, Reliance energy terminated power buy agreement for Tilayia UMPP in Jharkhand, mentioning non-fulfilment of land acquisition associated obligations with the aid of the country for over five years. This has reduced the capex by Rs 36,000 crore. The organization has also initiated dialogue with procurers of Krishnapattnam UMPP at the traces of Tilaiya UMPP. this may in addition reduce the capex by way of Rs 20,000 crore, Ambani advised shareholders. 

Reliance electricity stopped growing Krishnapatnam UMPP after imported coal costs shot up in 2012-13. The organization had bagged 3 UMPPs, of which it is running the pithead-based Sasan UMPP in Madhya Pradesh. Ambani said Reliance power is amongst India's top three main private strength technology groups. All its flora operated at an availability of over ninety three in step with cent in 2015-16. 

Reliance power has signed an MoU with Bangladesh government for putting in a 3,000 MW gas-based totally energy mission. Ambani stated the agency's sales rose fifty three per cent within the ultimate fiscal 12 months, EBITDA was up 87 according to cent, whilst earnings after tax jumped 32 consistent with cent. Reliance power is leveraged with a debt to fairness ratio of 1.77:1, one of the lowest within the energy quarter, he said, adding that the company had one of the strongest balance sheets among non-public power companies.