Home ECONOMY Reliance Power plans Rs.50,000 crore investment in next phase

Reliance Power plans Rs.50,000 crore investment in next phase

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Mumbai, Sep 30 :

While the current fiscal will signal the completion of Reliance Power’s first phase of growth, the company has decided to invest Rs.50,000 crore in domestic coal-based thermal, hydro and solar plants in its second phase, company chairman Anil Ambani said Tuesday.Reliance Power

“Over the next five financial years, the company contemplates to invest over Rs.50,000 crore on development of new projects, primarily the 4,000 MW Tilaiya UMPP and 40 million tonnes per annum of coal mine with an investment of Rs.40,000 crore and 700 MW Tato hydro project involving Rs.10,000 crore investment and solar projects,” Ambani said at the company’s annual general meeting (AGM) here.

The company would be operating 6,000 MW of power capacity at the end of the phase, he added.

Reliance Power’s net worth of Rs.20,000 crore provides a strong platform to finance future growth, Ambani said, adding that “the pillars for our near-term growth would be clean and green power projects”.

“The government has significant plans to promote renewable energy sources such as solar power. Reliance Power with its vision to be the largest clean and green power company would expand its green portfolio,” he added.

(IANS)