The Hindu Business Line : AP Genco to plough back profits as owner’s equity

The State-owned Andhra Pradesh Generation Corporation Ltd (AP Genco) is planning to plough back its profits into business as ‘owner’s equity’ in view of the massive capacity expansion programme they have undertaken.

The AP Genco board of directors has, therefore, decided against any dividend payout to its shareholders for 2007-2008.

The corporation has an installed capacity of 7,044.66 MW, including thermal 3,382.5 MW, hydel (3,659.76 MW) and wind (2 MW).

AP Genco registered sales income of Rs 5,195 crore and net income of Rs 197.64 crore for 2007-2008 against total income of Rs 4,324.74 crore and net profit of Rs 151 crore for the previous fiscal.

In a statement to the company’s shareholders, AP Genco has said that during 2007-2008, the company generated 33,323 million units from all sources with thermal, hydel and wind contributing to about 50 per cent of energy of the AP Grid.

The AP Genco’s coal-based thermal plants achieved a plant load factor (PLF) of 85.68 per cent against PLF of 84.95 per cent last fiscal. The hydel plants generated 9,636 million units against 9,394 mu during the previous fiscal.

The AP Genco has augmented capacity addition of 499 MW from 6,545 to 7,044 by adding two units of 210 MW each at Rayalaseema Thermal Power Station State II and 79 MW at Priyadarshini Jurala hydel projects.

The corporation is in the process of developing 4,524 MW under the joint venture. In addition, about 4,172 MW capacity is in the development stage.

Significantly, three projects of Genco have secured environmental clearance.

These include Rayalaseema thermal power project State II unit 5, Karimnagar gas-based project and Kakatiya thermal power plant Stage II.

As a part of backward integration plan, AP Genco has taken up development of captive coal mine blocks. It is also providing operation and maintenance services to 272 MW Vijjeswaram Gas power plant and some lift irrigation schemes.

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