Chennai, Jul 20 (IANS): Britain-based OPG Power Ventures Plc, operating power plants in India through subsidiaries, would raise the total generation capacity to around 742 MW by next year, said a top company official.
"We will be adding 77 MW next month and 240 MW - three units of 80 MW each - next year. Both the new projects are coming up adjacent to the company's existing power plant at Gummudipoondi near here," Arvind Gupta, managing director told IANS.
"We are setting up 300 MW (2x150 MW) in Kutch in Gujarat and revamping a 12 MW power plant in Bellary in Karnataka which will be ready next year," he added.
The total investment for the new units is around Rs.3,000 crore which will be funded with a mix of equity and debt.
Presently OPG Power group has a total power generation capacity of 117 MW comprising a mix of thermal, gas and waste heat recovery units, all located in Tamil Nadu.
"Our plants are logging around 92 percent plant load factor," Gupta said.
OPG Power operates its power plants on group captive model under which power generated is supplied to those industries that have taken equity stakes in the operating subsidiaries.
According to Gupta, industrial customers have been signed up for the power to be generated out its new power projects and some portion will be sold to Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO), the state power utility.
He said there is some time lag in getting payments from TANGEDCO and the dues will be around Rs.100 crore as of date.
The Gujarat plant will be in a power sector special economic zone (SEZ) promoted by OPG Power and Gupta said the necessary land has been acquired.
Asked about the supplies of coal for the proposed plants, Gupta said agreements had been signed with South Eastern Coal Fields and with an Indonesian company.
"Our idea is to fire 100 percent domestic or imported coal and not a blend of both," Gupta said.
The boiler, turbine and generator for the 300 MW Gujarat project will be supplied by Bharat Heavy Electricals Ltd (BHEL).
For the new units in Tamil Nadu, the boilers are supplied by Ansaldo and turbine by BHEL.