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THDCIL to invest Rs 240 billion – diversify in wind and solar energy

According to reports, THDC India, a mini ratna company in the hydropower business, has finalised its corporate and financial plans, with an investment of Rs 24,000 crore in the next 10 years.

“The total investment envisaged during the ten year period is around Rs 24,000 crore, to be funded through debt and equity, with equity largely coming from internal resources and joint venture partners,” said R S T Sai, chairman and managing director of the Rishikesh-headquartered company.

Apart from existing projects, the company intends to diversify into renewable energy sources viz solar and wind power, Sai said.

In the core business of hydropower, the company also intends to develop projects through joint ventures and strategic investments as some of the options for future growth, he said.

The total income of THDCIL, with an installed capacity of 1,400 Mw, during the financial year 2011-12 is Rs 20,551 million as against the previous year’s income of Rs 16,893 million. The income has gone up by 21.65 percent. The company has earned a profit of Rs 7,038 million the year 2011-12 as against the previous year’s profit of Rs 6,005 million with a jump of 17.20 percent.

The company generated 4,591.26 MU of energy during the year 2011-12 against the target of 3,334 MU.

The company is working on various projects like Tehri PSP (1000 Mw), Vishnugad Pipalkoti (444 Mw) and others in the hill state. THDCIL has already signed an MOU with the Uttar Pradesh government to set up 1320 Mw Khurja super thermal power plant in Bulandshahar area. This will be the THDCIL’s maiden foray into thermal power business. The company had decided that it would enter into other power businesses besides its core business of hydropower.

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