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Reliance Power to double capacity of thermal plants in UP &Maharashtra

Reliance PowerBSE 0.78 % will double the capacity of its Rosa power plant in Uttar Pradesh to 2,400 MW and Butibori power plant in Maharashtra to 1,200 MW, the company's chairman said. The company will also set up a solar photovoltic plant of up to 400 MW capacity in coming years, Anil Ambani told shareholders on Tuesday while addressing the 22nd Annual General Meeting of Reliance Power. He, however, said the company will look at future opportunities with caution. "In the near future, we will expand the capacity of our two existing thermal plants at Rosa in UP and Butibori in Maharashtra from the existing 1,200 MW and 600 MW respectively.", Ambani added. The company is pursuing other opportunities, which include setting up a 300-400 MW solar plant.

Ambani said the company has completed phase I of its Rs 50,000 crore capital expenditure programme. The company has an operating capacity of 6,000 MW. Reliance Power is in talks with consumers of its Krishnapatnam ultra mega power project (UMPP) in Andhra Pradesh for a mutual consent to abandon the project that will reduce its capex requirement by Rs 20,000 crore.

Reliance Power has signed an MoU with Bangladesh government for setting up a 3,000 MW gas-based power project. Ambani said the company's revenue rose 53 per cent in the last fiscal year, EBITDA was up 87 per cent, while profit after tax jumped 32 per cent.