Anil Ambaniís Reliance Power Plans To Raise $4 Billion
Reliance Power, promoted by Anil Ambani, has plans to raise Rs.20,000 crore ($4 billion) in 2009-10 in order to finance various power projects.
"In all, we raised about Rs.200 billion of debt for various generation projects. We are on course to raise Rs.20,000 crore of debt this fiscal," Anil Ambani told shareholders at the company's annual general meeting.
Reliance Power will be adding 3,000 MW of electricity generation capacity by 2012-end.
"Our present portfolio of over 33,000 MW in the next seven to eight years averages to almost 5,000 MW every year. Of this, we propose to commission nearly 3,000 MW by 2012," Ambani said.
"The pace of commissioning will pick up considerably after that and we should be on course to bring on-stream the remainder of our thermal projects by the middle of the 12th plan period."
He added that Reliance Power was seeking to advance the commissioning of its projects, including the Sasan project in Madhya Pradesh. The company would sell power from the Sasan project at a uniform tariff of Rs.1.19 per KW per hour for 25 years.