Adani Power expects to start over 7,200 MW capacity projects
Ahmedabad: Adani Power hopes to start construction of three projects having total capacity of over 7,200 MW, once various sectoral issues, including coal shortage are sorted out, company's Chairman Gautam Adani said Thursday.
Gautam Adani, who is also the Chairman of Adani Group, expressed confidence that current crisis in the Indian power sector would be resolved in a year's time.
Coal shortages, high prices of imported coal and limited availability of transmission lines are among the major issues facing the sector, he added.
He was speaking to shareholders of Adani Power at the company's annual general meeting held at Ahmedabad Thursday.
Gautam Adani said the firm was hopeful to begin construction of three projects, once the issues are resolved.
The three projects are 1,320 MW Chhindwara project in Madhya Pradesh, 3,300 MW Bhadreshwar and 2,640 MW Dahej plants, both in Gujarat.
Together, these projects have a total generation capacity of 7,260 MW. All would be coal-fired plants.
He also said the company would seek higher electricity tariffs while signing power purchase pacts for the three projects on account of increased import duty on equipment.
On July 19, the Cabinet had approved 21 percent duty on imports of power equipment, a move that was aimed at providing a cushion for domestic companies such as BHEL against cheap imports.
Meanwhile, the company expects the 3,300 MW Tiroda project in Maharashtra and 1,320 MW Kawai plant in Rajasthan to be ready by March 2013.
At present, Adani Power has an installed generation capacity of 4,660 MW, including a 40 MW solar plant in Rajasthan.
Adani Group aims to have a total capacity of 20,000 MW by 2020.