Reliance Energy seeks more power

MUMBAI: Reliance Energy Ltd is pursuing power projects worth Rs 60,000 crore ($13 billion) and plans a foray into nuclear energy, chairman Anil Ambani told shareholders on Wednesday.

Reliance Energy, which generates about 941 mw of power, is among many Indian and foreign companies that are making huge investments in the power sector in the country. The rapidly growing economy is currently hobbled by severe power shortages and the government has embarked on an ambitious plan to add 100,000 mw of power generation capacity by 2012.

The Anil Dhirubhai Ambani Group company’s investment will be in hydro, gas-fired and thermal power projects, totalling 16,000 mw. It is currently setting up what will be the world’s largest gas-fired power plant, worth about $3.45 billion, in Dadri in Uttar Pradesh. When fully commissioned, the project will produce 7,480 mw of power.

Reliance Energy plans to set up a 4,000 mw gas-fired power plant in Maharashtra, and another 280 mw hydro-power project in northern India. It has also signed preliminary agreement to set up two hydro-power projects of 1,000 mw and 700 mw capacity in Arunachal Pradesh.

It has also expressed interest in setting up a 3,500 mw power project in Sasan in Madhya Pradesh.