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APGenco has achieved financial closure for nine projects with a capacity of 3,749 MW , with PFC, REC leading the lenders' consortium of financial institutions and banks.
The third largest State-owned utility after NTPC and Mahagenco, with an installed capacity of 8,385 MW , has closed funding requirement for this fresh capacity addition. The funding of Rs 19,925 crore required for project implementation includes 20 per cent equity component, which would be met by Genco over the implementation period through internal accruals.
The expansion project includes Kothagudem thermal power station of 500 MW (Rs 2,325 crore), Bhoopalapally thermal power station of 600 MW (Rs 3,466 crore), Krishnapatnam 2x800 MW (Rs 8,654 crore), Rayalaseema thermal stage IV expansion of 600 MW of Rs 3,225 crore, Jurala 240 MW of Rs 1,180 crore along with other projects.
The Managing Director of APGenco, Mr K.Vijayanand, said the corporation was working towards significant capacity addition and the financial closure of these projects would help expedite their implementation.
“The long-term plan is to increase the total installed capacity by 17,292 MW with an investment outlay of Rs 98,406 crore over two plan periods,” he said.
Addressing a press conference here today, Mr Vijayanand along with Mr D. Prabhakar Rao, Joint Managing Director of APGenco, said the corporation has achieved a total turnover of Rs 8,526 crore during FY 2010-2011, up 29.42 per cent over the previous fiscal's Rs 6,588 crore. The net profit was up 7.61 per cent during the year at Rs 310 crore against the previous year's Rs 289 crore. APGenco earned Rs 135 crore from Operations and Maintenance contract and other consultancy services.
“We expect to cross revenues of Rs 10,000 crore during FY 2012. The corporation achieved a capital expenditure of Rs 2,200 crore during 2010-11 and plans an expenditure of Rs 2,600 crore this fiscal,” Mr Prabhakar Rao said.
Genco has thermal capacity of 4592.5 MW, hydel generation of 3790.4 MW and two MW of wind energy farms. This constitutes 56.1 per cent of the State's total installed capacity of 14,938 MW. It recently commissioned a one MW solar photovoltaic grid connected unit at Jurala on a pilot initiative and plans to take up more projects.
Outlining their plans to enter into nuclear power generation, Mr Vijayanand said that the corporation is in talks with the Nuclear Power Corporation of India Ltd to set up two plants in Andhra Pradesh with a total capacity of about 2000 MW. These projects may come up at Pulivendula in Kadapa and in north coastal part of the State, once a joint venture is concluded.
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