Jan 12 2011
Reliance Power, a group company of Anil Dhirubhai Ambani, has figured in the renewable energy news again. The company has recently unveiled its plans to augment its total renewable energy production to 1,000 MW over the next two to three years.
The company has its wind power generation projects in places such as Karnataka with 9 MW, Tamil Nadu 18 MW, Gujarat 19 MW and Maharashtra 48 MW. The company is in the lookout for projects with 100 MW or more power production capability.
Reliance Power is planning to set up concentrated solar power (CSP) and solar photovoltaic power plants with capability to generate 600 MW power in Rajasthan. It is planning to install 400 MW wind power generating plants in Karnataka and Gujarat. The company holds Rs. 11,669.24 crores as reserves as per its 2010 balance sheet and proposes to fund the projects utilizing its own resources. Recently it’s fully owned auxiliary company, Rajasthan Sun Technique Energy, received a letter of intent from NTPC Vidyut Vypar Nigam (NVVN), a government of India undertaking to establish a solar thermal project under the first phase of the Indian National Solar Mission.
Its tie-up with the US-based, Export-Import Bank will allow the company to receive up to $5 billion to sustain the purchases of US manufactured products for a period of three years, which includes importing 900 MW worth products and technology for wind and solar energy production.