Hinduja National commissions 1,040-MW project in Vizag
Hinduja National Power Corporation Limited (HNPCL), a part of the transnational conglomerate the Hinduja Group, has commissioned its 1,040-MW power project at Palavalasa village in Visakhapatnam district of Andhra Pradesh.
Hyderabad: Hinduja National Power Corporation Limited (HNPCL), a part of the transnational conglomerate the Hinduja Group, has commissioned its 1,040-MW power project at Palavalasa village in Visakhapatnam district of Andhra Pradesh. The project, set up with an investment of $1.25 billion, financed by a mix of debt and equity, has 2x520 MW coal-based thermal generation units. The project has 100 per cent normative coal allocation from Coal India Limited’s subsidiary, Mahanadi Coalfields Limited.
“The entire power generated by this project is being given to state-owned Southern and Eastern Power Distribution Companies of Andhra Pradesh. It will primarily cater to the growing power needs of the rising industrial demand in and around the city of Visakhapatnam and the southern region, which includes some of the fastest-growing economies in the country,” Ashok Puri, Managing Director of HNPCL, said in a statement on Monday.
Andhra Pradesh is the first State for implementing an around-the-clock ‘Power for All Scheme’ and a pioneer in the country to initiate the power sector reforms as early as 1998. Its total installed capacity is 15,311.17 MW and aims to achieve an installed capacity of 29,000 MW by 2019. Hinduja Group has identified power generation as one of its focus areas of business.
The group has a vision to create a generation capacity of 10,000 MW over the next few years with an expected investment of around $ 14 billion. These projects will be diversified in terms of geographic location, technology, fuel type and fuel source, the release added.
