MUMBAI: Tata Power officials said they have got all the statutory clearances to go ahead with the 1600 MW coastal Maharashtra power project.
This was announced as part of the quarterly results declared on Thursday. Sources said that the power plant is being set up at Dherand near Alibaug. "All statutory clearances required to start the project implementation are in place," officials said during the quarterly results announcement. "The project is in advance stages of land acquisition. The PPA is being pursued and 30% domestic coal linkage as per policy is also being awaited."
Commenting on the Company's performance, Tata Power MD Anil Sardana said, "In the second quarter of FY14, the Company reported revenue growth of 14% driven by operations of all the units of Mundra and Maithon. All our projects and subsidiaries have performed well. However, we continue to be pressurized by higher forex losses. On the Mundra UMPP tariff revision front, we have continued to honour our commitment towards the nation's energy security by providing reliable and competitive power supply through the project. This has put immense pressure on our bottom line and no company can afford to continue to incur such heavy losses."
He further stated: "We are eagerly awaiting quicker resolution of this issue. We are happy with the start of construction of the first phase of the hydro project in Georgia which puts us in a strong position to pursue our commitment to sustainability. We have further augmented our wind generation capacity in line with our commitment towards generating 20-25% of energy from clean sources."
The quarterly results showed that the company has performed well despite a volatile macro environment. Sales volume for the quarter stood at 3762 MUs and the overall Generation was 3404 MUs. Mundra reported generation of 5425 MUs as compared to 1540 MUs in corresponding quarter last year.
Maithon plant reported 1211 MUs as compared to 1196 MUs. Trombay Thermal Power Station generated 1670 MUs while hydro power stations generated 478 MUs. Jojobera thermal power station generated 747 MUs and Haldia reported generation of 223 MUs.
Industrial Energy Limited reported generation of 443 MUs and Wind Farms generated 286 MUs. Solar plants recorded generation of 1 MU.
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