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Simhapuri Energy, a subsidiary of Madhucon Projects Ltd, has commenced commercial operations of 300 MW of unit I and II located in Nellore district of Andhra Pradesh.
The diversified, Hyderabad-based listed infrastructure holding company, Madhucon is implementing 1,920-MW thermal power plant with a total outlay of Rs 11,270 crore.
With this, the first phase of 300 MW has been completed and the company expects to complete phase II of 300 MW by November-December. Unit I of 150 MW was commissioned on May 4.
Seventy per cent of the capacity is supplied to Power Trading Corporation under tolling agreement and the balance 30 per cent power generated goes towards merchant power.
Once both the phases of operational capacity of 600 MW are implemented by the year-end, these thermal units are expected to contribute about Rs 600-crore revenue.
The company has long-term imported coal supply pact for the plant located close to the Krishnapatnam port.
Madhucon Projects’ shares were trading up 7.55 per cent at Rs 37.05.
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