R-Power wraps up 1st phase of Rs 50k-cr capex in record time

Anil Ambani-led Reliance Power has completed its first phase of its Rs 50,000-crore capital expenditure programme in a record time and will also be participating in upcoming solar auction in different states.
The company has "completed phase I of Rs 50,000 crore capex (capital expenditure) programme in record time", Reliance Power (R-Power) Chairman Anil Ambani told shareholders at its AGM today.
The board will consider making the maiden dividend payment this year.
Expressing commitment to clean and green renewable power, he said the company has signed a pact with Bangladesh to set up a gas-based power project and proposed "relocating capital equipment from 2,250-mw Samalkot project".

With an eye on 100-gw solar capacity addition target of the government, the company is also getting ready for the upcoming solar auction in various states.
The company was "awarded LoI (Letter of Intent) for 960 mw Jangi Thopan Powari hydro power project in Himachal Pradesh through competitive bidding" and has signed an MoU with Rajasthan for solar parks.
"As far as its resources business is concerned, Reliance would focus on India and is evaluating exiting Indonesian Coal concessions," Ambani further said.