The group, run by London-based Hinduja family, will create a power generation capacity of 10,000 Mw over the next ten years, for which it is negotiating with 7-8 states, its global president GP Hinduja told PTI in an interview here.
The first of this would be the 2,000-Mw Vizag project in Andhra Pradesh, he said.
The group's total investment in the country's power sector would work out to be around $10 billion (about Rs 40,000 crore), given the average cost of about $1 billion for creating 1,000-Mw capacity, Hinduja said.
The group will also consider bidding for upcoming ultra-mega power projects (UMPPs) as and when the government invites bids for the same, he said, adding that any decision in this regard would be taken only after the bids are invited and on a case-to-case basis.
While Hinduja did not wish to comment on the current status of the group's Vizag project, it is understood that the application for coal linkage has been recommended by Central Electricity Authority and is awaiting the nod of Coal Linkage Committee.
More From This Section
Out of the group's overall 10,000-Mw power generation plan, Vizag project is expected to be the first to reach financial closure.
Asked whether the group was late in making an entry in the Indian power sector, Hinduja said: "Power sector is just beginning to take off. There is a gap of over 78,000 Mw and is increasing every year."
While asserting that the group was not late in entering the power sector, Hinduja said: "We are, in fact, ahead of time" when considering the demand and need for power generation in the country.
Keeping these issues in mind, the group is hopeful to get clearances for their various projects fast, he said.
On the Vizag power plant, Hinduja said land agreement had already been sealed with the state government.
The Vizag project company has applied to the Ministry of Coal for restoration of earlier coal linkage from Mahanadi Coal Fields, which is also supplying coal to the adjoining Simhadri Plant of NTPC.
The group has sought early coal linkage on a conditional basis so that it can proceed with inviting bids for the power equipment. Besides, once the source of supply and specifications for coal is known, it would be followed by deciding the particular equipment specifications.
Hinduja group is one of the world's most diversified business conglomerates with presence in over 100 countries across continents.
The multi-billion-dollar group has interests in energy, automobiles, technology, banking, media, entertainment, real estate, infrastructure and health care, among other businesses.