Reliance Power to raise capacity to 5,000 MW in 24 months
By IANSTuesday, September 28, 2010
MUMBAI - Reliance Power, a part of the Anil Dhirubhai Ambani Group, Tuesday said it will raise its installed power-generation capacity manifold over the next 24 months to touch 5,000 MW, with an ambitious target of 25,000 MW by 2015.
Addressing the company’s annual general meeting here, group chairman Anil Ambani said Reliance Power has also drawn up an ambitious programme in wind and hydro power as part of the drive to provide clean, green energy.
The company’s current capacity in thermal energy is 600 MW.
The markets gave an immediate thumbs up to the news that saw the Reliance Power scrip gain 2.3 percent at Rs.173.50 on the Bombay Stock Exchange, soon after the chairman concluded his remarks.
Following are the highlights of Ambani’s speech at the meeting:
- Wind power of 1,000 MW over the next five years
- Over the next 24 months grow thermal energy from 600 MW to 5,000 MW
- Vision to become India’s largest hydro power firm by 2015
- To commission 3,000 MW of hydro power by 2010
- Domestic coal reserves will support 20,000 MW of thermal power
- Another 10,000 MW will be supported by coal from Indonesia
- Aim to achieve 25,000 MW of energy generation by 2015
- 20,000 MW of power to be commissioned over the next three years
- Vision to become India’s largest coal mining firm by 2015
- Outlay of Rs.10,000 crore (over $2 billion) for Samalkot power project in Andhra Pradesh
- Shanghai Power Corp to be strategic partner for thermal energy
