Nuclear power, solar, ultra mega power project by Reliance

Reliance Industries is drawing up specific plans for mega investment in power sector, and will unveil these in a few months, the company said on Friday.

“We expect to bid for all ultra mega power projects,” chairman Mukesh Ambani told shareholders at the company’s 36th annual general meeting.

An ultra mega power project (UMPP) typically has a
capacity of 4,000 mw and entails total investment of Rs 16,000-20,000 crore.

The government has so far awarded four such projects — three to Reliance Power and one to Tata Power Co.

It has invited bids for two more UMPPs, to be set up at Chhattisgarh and Orissa.

Reliance Industries is planning foray into coal-based power generation projects, hydropower projects, and also in nuclear power as and when the latter opens up for investment, Ambani said.

Analysts at broking house Sharekhan view the plan to invest in power as a “positive” given its expertise in successful execution of long projects and eminent growth opportunities available in the sector.

The company is also looking at alternative energy, including solar energy projects.

It is setting up a 5 mw solar electricity farm near Jodhpur in Rajasthan, which is slated to be India’s largest solar electricity farm.

It has already executed a 1 mw roof-top project at Thyagaraja Stadium for the Commonwealth Games in New Delhi.

Ambani also said Reliance Industries would start supplying gas to Anil Dhirubhai Ambani Group’s power plants as and when they are ready, subject to government granting allocation to these plants.
NW18