Reliance Power is in an advanced stage of tying up debt of 7,000 crore for financing its 2,400-megawatt (MW) gas based power project at Samalkot in Andhra Pradesh. State Bank of India (SBI) is the lead arranger for the debt, which would include an offshore debt of 3,000 crore from US Export Import Bank. The project is being set up at a total cost of 10,000 crore. The equity investment of 3,000 crore is in place and the debt would be tied up soon. The financial closure for the project may be announced in another six to eight weeks.
Reliance Power has placed the turnkey engineering, procurement, and construction order, worth 7,200 crore, for the project with group company Reliance Infrastructure. The first unit of 800 MW at Samalkot will be commissioned by December, while the plant will be fully operational by March 2012. The company is yet to tie up gas linkages for the project. The plant will have a total gas requirement of 9.6 mmscmd, but in the first phase it would only need 3.2 mmscmd by December.
The Samalkot Power Project is of strategic importance to Reliance Power as it would be the biggest gas-run power plant in the country on commissioning. The company has put the Samalkot project on fast track because its earlier attempt to set up a gasbased project of capacity 7,480 MW at Dadri in Uttar Pradesh has been delayed due to legal dispute over land acquisition for the project.
Reliance Power aims to scale up its capacity to 25,000 MW by 2015. It currently has 600 MW of operational capacity at its Rosa Power Projects in Uttar Pradesh and is in the process of acquiring another 433 MW of operational assets from group company Reliance Infrastructure.crackcrack
| Company Name | CMP |
|---|---|
| NTPC | 365.70 |
| Tata Power | 413.55 |
| Power Grid Corp | 337.00 |
| Adani Power | 460.75 |
| Torrent Power | 1517.70 |
| View more.. | |
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