Simhapuri Energy Private Limited, a wholly-owned subsidiary of Hyderabad-based Madhucon Group with interests in power and infrastructure sectors, on Tuesday announced the commercial operation of its second 150-Mw, coal-fired thermal power unit. This marks the completion of the Phase-I of the project.
The company is developing the 1,920-Mw thermal power project in the coastal district of Nellore with 300-Mw each in the first two phases and 1,320 Mw in Phase-III with an investment of Rs 11,270 crore.
The company also said that work on the other two units of 150 Mw each in Phase-II was in advanced stages and that the units were expected to be ready by the end of this calendar year.
With the commercial operation of the four units with a total capacity of 600 Mw, the company expects to generate a top line of Rs 600 crore during the current financial year, the company said in a press release.
The company will be supplying 70 per cent of the power generated from this project to Power Trading Corporation (PTC) under the tolling agreement and the balance 30 per cent will be sold as merchant power, the company said.
Meanwhile, Madhucon’s coal subsidiary, which has three coal mines in Indonesia, has started coal production at the rate of 25,000 tonne per month while its Indonesian power subsidiary, which is planning to set up a 300-Mw pit head project, is expected to complete the financial closure by the end of this calendar year, according to the press release.