By BS Reporter
Reliance Power's third quarter consolidated net profit jumped 30 per cent to Rs 265.6 crore from Rs 204 crore in the corresponding period last year.
The total income, too, doubled to Rs 1,586 crore compared with Rs 674 crore on the back of increased power generation from its Rosa power plant. The plant generated 2.4 billion units, compared with 987 million units in the corresponding quarter last year.
The company is also planning to commission the first 660-megawatt unit of its flagship Sasan ultra mega power project soon. "The pre-commissioning activities have started and it's a matter of days now," J P Chalasani, chief executive, said.
The third captive coal mine, Chhatrasal, a part of the Sasan power project, received the first stage of forest clearance. "The clearance was stuck in the go and no-go issue. After this, we will apply for stage-II clearance and once that is obtained we can start work on the development of the mine," said Chalasani.
The company had also commissioned both the units of its 600-megawatt power plant in Butibori in Maharashtra. However, it is yet to sign a fuel supply agreement (FSA) to get coal for the project.
"Now, the government has said FSA can be signed even with projects which do not have long-term power purchase agreements (PPAs). And coal will be supplied only once they have a PPA. We hope to start generation by April 1," said Chalasani. The company is in talks with various procurers to sign an agreement.
Reliance Power's ultra mega power project in Tiliaya's mines is yet to receive land from the government, following which the mine development could start.
The company has also synchronised four gas turbines at its Samalkot power plant in Andhra Pradesh. Chalasani said that the project is waiting for gas.
The company has already received clearances for its 700 megawatt hydel power plant in Arunachal Pradesh, and also signed PPAs with Mumbai and Delhi distribution entities. It would start tying up finances of around Rs 3,920 crore.