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REL plans Rs. 60,000 cr. investment

Keen to bid for two more ultra mega power projects in A.P. and Jharkhand

— Photo: Paul Noronha

THINKING BIG: Anil Ambani, Chairman, Reliance Energy, addressing the company’s AGM in Mumbai on Tuesday.

MUMBAI: Reliance Energy Ltd. (REL) plans to invest Rs. 60,000 crore in the next five years to add 15,000 MW of power generation capacity, company Chairman Anil Ambani said here on Tuesday.

“REL is set to grow at an explosive pace with a focus on large-scale generation projects using coal, gas, hydro and other renewable fuels,” Mr. Ambani told shareholders at the company’s annual general meeting here.

The company would bid for all ultra-mega power projects (UMPPs) and target to bag at least two of them with an investment outlay of Rs. 40,000 crore.

The Government has proposed the setting up of 4,000 MW UMPPs and would invite tariff-based bids for a total capacity of 36,000 MW with an investment outlay of Rs. 150,000 crore.

“REL had participated in both the projects — Sasan in Madhya Pradesh and Mundra in Gujarat — last year. Two more UMPPs are expected to be put to competitive bidding later this year. These are the Krishnapatnam project in Andhra Pradesh and the Tilaiya project in Jharkhand,” Mr. Ambani said.

Besides, the 4,000 MW power plant at Shahpur in Maharashtra was at an advanced stage of development and was estimated to cost Rs. 15,000 crore, comprising a 2,800 MW gas-based project and a 1,200 MW imported coal based project. REL has been selected by the Maharashtra Industrial Development Corporation (MIDC) through competitive bidding to set up a 300 MW project at Butibori near Nagpur.

The company is looking at expanding the Dahanu power project near Mumbai by 500 MW. The company, one of the power distribution firms in Mumbai suburbs, was hopeful of getting environment clearance for the expansion shortly, Mr. Ambani said. — PTI

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