Reliance Power eyes top spot in Indian private power production

Anil Ambani announced that his firm Reliance Power is poised to become the country’s largest private sector power generation and coal mining company in the next five years.

The company has tied up funds worth USD 17 billion for its businesses.

Addressing shareholders at its Annual General Meeting, R-Power Chairman Ambani said that the company was on track to achieve a total operating capacity of 5,000 Mw by the end of 2012. He further said that R-Power’s four billion tonnes of captive coal resources in India and Indonesia would insulate it from fuel supply risks.

Ambani said that R-Power was set to commence coal production in India and Indonesia next year and poised to join the league of the world’s top ten thermal coal producing companies with a production capability of up to 100 million tonnes per annum.

He said that the company has signed an MoU with the US Exim Bank for a US$ 5 billion facility and has received approval for US$ 1.6 billion — the largest in India. It has also signed an MoU with Chinese banks for US$ 12 billion. The banks include Bank of China, China Development and C-Exim.

The company has received approval for US$ 1.1 billion for Sasan, a first in India, he added.The company’s bank of projects with land and other critical clearances for nearly 30,000 Mw capacity was a significant advantage, as these are the most commonly cited challenges in infrastructure project development, he added.

Ambani also said that Reliance Power was set to become India’s largest green power company and was building the country’s largest single location wind project in Maharashtra (200 Mw) at an outlay of Rs 1,400 crore.

He said that the first phase of the 1,200 Mw Rosa plant in Uttar Pradesh has demonstrated a strong operating performance and the first phase of 1,400Mw at Samalkot gas-based project would get fully commissioned in March 2012. The entire 2,400 Mw Samalkot plant will be commissioned by 2012, becoming the country’s largest gas-based power plant.

The company is also setting India’s largest solar facility in Rajasthan at an outlay of Rs 2,600 crore.

Anil Ambani said group company Reliance Power will commence coal production from its Indonesian mine next year.