Home ECONOMY US Corp with stakes in Odisha power plant gets top recognition

US Corp with stakes in Odisha power plant gets top recognition

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Odisha Sun Times Business Bureau
Bhubaneswar, Oct 7:

The AES Corporation, one of the leading power companies in the world and a strategic partner in the Odisha Power Generation Corporation (OPGC), has been named to the Dow Jones Sustainability Index (DJSI) for North America and ranked in the top quartile among all electric utilities assessed by RobecoSAM.

AES

The DJSI tracks the performance of leading sustainability-driven companies worldwide and its construction is based on the Corporate Sustainability Assessment (CSA) carried out by RobecoSam and helps determine companies that are better equipped to identify and respond to emerging opportunities and risks resulting from global sustainability trends.

Companies are assessed based on their economic, environmental and social performance. Each year more than 3,000 companies are invited to participate in a Corporate Sustainability Assessment carried out by RobecoSam.

DJSI, compiled by Dow Jones and RobecoSam Group, was launched in 1999 and was the first set of global sustainability indices to assess a company’s corporate sustainability from the economic, environmental and social developments aspects.

Headquartered in Arlington in the state of Virginia in USA, the AES Corporation became a strategic partner in the Odisha Power Generation Corporation (OPGC) subsequent to its divestment in 1999.

In 1998, AES acquired 49% stake in OPGC which owns and operates a 420 MW coal-fired power plant.

Ever since AES became a strategic partner in OPGC, it has brought in many qualitative changes in OPGC including higher plant load factor, better effluent management practices and global safety standards with its commitment and adherence to global performance norms and best practices.

OPGC also continues to be a highly reliable power company offering one of the lowest tariffs for the consumers of Odisha.

OPGC will undergo two-stage expansion of 2640 MW for which it has been allocated two captive coal blocks with aggregate resources of 531 million tonnes.

It is currently in the first phase expansion of 1320 MW.

A Fortune 200 global power company, AES Corporation provides affordable, reliable and sustainable energy in 20 countries through its diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.

In 2013, AES revenues were $16 billion and the company owned and managed $40 billion in total assets.