The Hindu Business Line : Hindujas firming up power project plans

New Delhi, Feb. 12 After a hiatus of nearly two decades, the Hinduja Group is planning a second innings in the country’s power sector. The group is currently firming up plans for setting up mega power projects across multiple locations, with a proposal for developing a thermal project in Visakhapatnam in advanced stages and the possibility of a second one in West Bengal under consideration.

“The group plans to set up a thermal power project in Andhra Pradesh. The size of the project depends on the land availability,” Mr Subir Raha, Executive Vice-Chairman, Hinduja Group India, said.

While plans entail development of a 1,600-MW project (comprising two 800 MW sets), the project could be scaled up to 2,400 MW (3X800 MW) if the land is made available at the site.

The company has around 1,100 acres of land at the location, Mr Raha said, adding that the land issue is likely to get sorted out shortly. The group is also open to the option of roping in a strategic partner for the Visakhapatnam project, even as it would remain the majority stakeholder.

According to industry players, there is a likelihood of this project being developed as a merchant project, with around 75 per cent of the power generated from the facility to be earmarked for sale in the spot market.

The group is also looking at setting up a power project in West Bengal, where it is already evinced interest in putting up a petrochemical hub, Mr Raha said.

The Hindujas had, nearly 18 years ago, signed a memorandum of understanding for setting up a 1,040-MW coal-fired power plant near Visakhapatnam. The project was one of the ‘fast-track’ projects that were conceived in the early 1990s with sovereign guarantee, but like the other fast-track power projects, did not take off.

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