R-Power plans over Rs 60 bn investment in Rajasthan

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Reliance Power plans to invest more than Rs 60 billion for solar power generation projects in Rajasthan in the next two years, according to a Business Standard report.

Anil Ambani group firm Reliance Power commissioned a 40 mega watt solar power plant in Rajasthan, which is the country’s largest solar project so far. Another 100 mega watt capacity would be added at the site in the next one year.

“Based on futuristic policy of the Government of India as well as the Government of Rajasthan, we hope to double the capacity to 300 Mega watt in the next 24 months. This would mean our investment at this location would exceed Rs 60 billion,” Anil Ambani, Chairman of Reliance Power, said.

The 40 mega watt plant has been set up at an investment of about Rs 7 billion. The long term power purchase agreement for the project has been signed with Reliance Infrastructure and the power generated would be used for Mumbai. The project would generate more than 70 million units of clean power.

The project is financed with a debt equity ratio of 75:25. While Reliance Power has put in the entire equity, the debt have been provided by the US Exim Bank and the Asian Development Bank (ADB).

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