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September 08, 2008


AP Genco to invest INR 9,000 crore to add 2,324 MW capacity

AP Genco has turned the corner registering profits for the second consecutive year, wiping out accumulated losses and is on course to investing about INR 9,000 crore to add about 2,324 MW. For this addition, AP Genco has achieved financial closure and these projects are at various stages of implementation with 1,500 MW to be added by this fiscal end.

Mr SV Prasad chairman of AP Genco said that the performance of the corporation has been significant with the company logging revenues of INR 4,617 crore up by 6.7% YoY over last year’s INR 4,325 crore. It earned a profit of INR 191 crore up by 26.5% YoY over INR 151 crore.

Mr Prasad said "State government support has been extended in setting up new power projects. Keeping in view the future power requirements, AP Genco has taken up 17 projects with a total capacity of 9,155 MW with an estimated investment outlay of INR 36,386 crore. This may look far fetched, but we are confident of implementing them."

Mr Ajay Jain MD of AP Genco said that its average cost of supply per unit is amongst the lowest in India at INR 1.44 and it continues to ensure that power is supplied at lowest possible cost. With an installed capacity of 7010 MW, thermal, AP Genco contributes to about 56.6% of the total state’s installed capacity of 12,381.5 MW. With the addition of various projects under implementation, the state would move closer to self sufficiency.

Mr Jain said that, in addition to the projects under implementation, Genco was in the process of securing fuel linkages for the 2100 MW Karimnagar gas based project, 600 MW Rayalaseema thermal power station, 960 MW Polavaram, 312 MW Dummugudem and 200 MW Singareddypaly.

Mr Jain said that negotiations are under way with ONGC, GAIL and Reliance for gas supply. Once the legal issues relating to gas supply are sorted out, we expect to firm up with reliance. During last fiscal, Genco added 459 MW which includes 210 MW Rayalaseema thermal Power Stage II and Priyadarshini Jurala each with 39 MW.