Reliance Power is all set to become the country’s largest power company by 2015. Speaking at the annual general meeting (AGM) of the company, Anil Ambani said the company has a vision that Reliance Power will top all parameteres of a power company, be it private thermal power, hydro power, clean power or being the largest coal mining company.
Giving details about power projects, the junior Ambani said the company will have operational capacity of 5000 MW by 2012 and will add another 20,000 MW over 3 years in order to achieve 25000 MW by 2015. Among other things, Reliance Power will commission 3000 MW hydro capacity by 2016, and will add 1000 MW wind, solar power over 5 years.
Ambani said the compay would require the shareholders nod to sell fresh equity.
Reliance Power has begun construction for a 2400 mega watt gas-based plant at Samalkot. The Samalkot Project outlay stands at Rs 10,000 crore and is expected to be completed by 2012, Amabani added.
Ambani asserted that Reliance Power has over 2 billion tonnes of domestic coal reserves, sufficient to support up to 20000 MW of capacity. He further added that the company’s Indonesian coal reserves could support up to 10000 MW of capacity.