OPGC

State govt to pay Rs 1,000 cr for 49% holding in complete reversal of privatisation drive; It already owns 51% in OPGC which owns and runs a 1,740 Mw coal-fired plant

OCPL can sell 6,000 tonnes of coal per day to Coal India at notified prices

Commercial operations to start soon and 100% of the power generated to go to Gridco, says senior company official

The state-owned power firm is investing Rs 11,547 crore on expansion

Odisha Power Generation Corporation (OPGC), a 51: 49 joint venture between the Odisha government and the US based AES, has expanded its equity base by Rs 485 crore with proportionate additional capital infusion by both the shareholders. The equity infusion was required to support the investment for capacity expansion of the thermal power station of the company which is underway. OPGC runs a 420 Mw coal based thermal power plant at Ib Valley in Jharsuguda district and is in the process of expanding the capacity by 1320 Mw (2X660 Mw). The funding of the expansion project along with development of captive coal mines is estimated to cost Rs.11,547 crore and is based on a Debt to Equity ratio of 75:25. While the Odisha government has released Rs 247.35 crore in favour of OPGC as equity contribution, AES has brought in additional 35.39 million USD (Rs. 237.65 crore) proportionate to its 49 per cent stake in the company, thus raising the paid up equity capital of OPGC to about Rs. 975 crore .

To feed its two 660 Mw upcoming super critical units under its ongoing expansion at Ib valley plant near Jharsuguda

The expansion plan is expected to be commissioned by the end of 2017-18.