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Private sector power producer, OPGS Power Gujarat Pvt Ltd will commission its 300 Mw thermal power plant on February 28.
Set up at the cost of Rs 1,855 crore at Bhadreshwar in Kutch, the power plant will supply electricity to industrial users. Managing director of the company, Arvind Gupta informed that initially, the plant is expected to operate at the plant load factor (PLF) of about 80 per cent, whereas company's other plants in Tamil Nadu are operating at the PLF of about 90 per cent. Gujarat chief minister Anandiben Patel will inaugurate the power plant on February 28.
The coal-fired plant will get coal from government allocation, while the company has also tied up for coal supplies from Indonesia. "We have about 1.2 million tonnes of annual coal commitment and currently we are getting about 30 per cent of it. For the balance, we will source coal from Indonesia, where we have long-term coal linkages," Gupta said during a media interaction here on Wednesday.
OPGS Power Gujarat Pvt Ltd, an arm of London Stock Exchange (LSE)-listed OPG Power Ventures Plc, has about Rs 1200-1300 crore worth of bank loans for the Gujarat project, while the equity capital for the project is Rs 464 crore. OPG Group has a total of 75 Mw of capacity in India through Indian subsidiaries.
The company plans to invest about Rs 15,000 crore for setting up 2000 Mw of power capacities including thermal in the next five years.
"We are also considering venture into solar projects but that will be decided in next quarter. We will announce new projects in renewable after successful commissioning of the project," said Gupta.
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