Ruia-owned Essar Power Hazira Ltd’s (EPHL) has reported revenue of Rs 53 crore for the December quarter in its very first full quarter of operations.
It also reported earnings before, interest, tax, depreciation and amortisation (EBITDA) of Rs 46 crore for the December quarter. In a statement, EPHL said it recorded a plant load factor of 98.22% as compared to 78.44% in the previous quarter—an improvement of over 25%. The net power generated during the period under review was 263.5 MU.
EPHL started commercial operations of Unit I (135 MW of a total capacity of 270 MW) in July 2015. Since then the operations have been consistent. The plant has achieved 100% reliability from the third month of operations.
"Our company is a game changer for Essar Steel Hazira’s steel complex. By consuming Corex gas coal fines to produce and supply cost-effective power, it helps reduce the overall steel production cost,” said Nishith Dayal, Managing Director, EPHL. EPHL is a captive power supplier to Essar Steel India Limited, which operates a 10 million tonnes steel plant in Hazira.
