Hindustan Power plans ₹32,000-cr investment

Hindustan Power Projects Private Ltd, formerly known as Moser Baer Projects Pvt Ltd, is embarking on ₹32,000-crore investment plan to have 5,300 MW of capacities in its portfolio in the next three years.

The Delhi-based company has already made an investment of around ₹14,500 crore across its projects in solar, coal-thermal and hydro power, Ratul Puri, Chairman of the company told Business Line . Of this, the company has borrowed about ₹10,000 crore mostly from domestic banks and financial institutions.

The remaining investment would be made in a debt to equity ratio of 75:25, Puri said.

Hindustan Power targets to commission first phase of power plant in Madhya Pradesh for 1,200 MW by July-August.

The plant has coal linkage from South Eastern Coalfields Ltd. It has long-term power purchase agreements with utilities in Madhya Pradesh and Uttar Pradesh. The company’s another coal fired project of 1,320 MW in Chhattisgarh will be operational by 2016-17. Puri said that the company wants to maintain a balanced portfolio comprising both renewable and conventional projects.

In the renewable business, Hindustan Power eyes to have 1,000 MW solar power capacity. Currently, it has about 430 MW of operational or about to commission solar projects.

Of this, nearly 320 MW are in India, while 120 MW are spread across Germany, Italy and the UK. Another 270 MW of solar capacity would be commissioned in the next 12-18 months, said Puri, adding India, UK and Japan would be its focus markets.

Currently, the solar business is generating revenues of around ₹550 crore annually, which is expected to touch ₹2,500 crore in three years, Puri said.

The company is also working on two hydro projects – 440 MW and 120 MW – in Himachal Pradesh.

According to Puri, the company has received all requisite clearances and would soon start construction of these two hydropower plants.

COMMENT NOW