According to reports, Reliance Power’s four billion tonnes of captive coal resources in India and Indonesia will insulate it from fuel supply risks, Mr Anil Ambani, Chairman, Reliance Power, said.
Addressing shareholders at the annual general meeting, he said the company was set to produce coal next year and would be among the top 10 thermal coal producing companies globally with a production capability of up to 100 million tonnes per annum.
Mr Ambani said R Power’s bank of projects with land and critical clearances in place totalled 30,000 MW.
He said the company’s financial engineering capability had enabled it to expand sources of funding and secure competitive financing from the US-EXIM, Chinese and global banks. It has signed a MoU with the US EXIM for $5 billion (Rs 25,000 crore) and received approval for $1.6 billion (Rs 8,000 crore). R Power has also inked a MoU with Chinese banks for $12 billion (Rs 60,000 crore). Approval had been obtained for $1.1 billion (Rs 5,500 crore) for the Sasan project.
Referring to wind and solar, he said, R Power was building the largest wind power project in Maharashtra (200 MW) with an outlay of Rs 1,400 crore.
It was also setting up a 140 MW solar facility in Rajasthan with an investment of Rs 2,600 crore.