Orissa Power embarks on Rs.10,000 crore expansion plan

BHUBANESWAR - Orissa Power Generation Corporation Ltd (OPGC) has floated a global tender for expansion of its coal-fired power plant in the state, a company official said Thursday.

The company, a joint venture between the Orissa government and US-based power giant AES Corporation, operates two thermal power plants of 210 MW each at Banharpali in Jharsuguda district, some 400 km from state capital Bhubaneswar.

Under its Rs.10,000 crore (over $2 billion) expansion plan, the company wants to add two more units of 660 MW each and planned to achieve financial closure for these units by June next year, he said.

“We will take loan from the Power Finance Corporation and Rural Electrification Corporation for the purpose”, he said.

The last date for submitting bids is Feb 22, 2011, he said.

OPGC was incorporated as a state-owned unit Nov 14, 1984. As part of its energy sector reform, the state government divested 49 per cent of its stake to AES Corporation in 1999.