Karnataka Power Corporation Limited (KPCL), the state-owned power generator, has set an ambitious target of becoming an energy surplus state with the addition of about 6,000 Mw over the next five years, a top official said. It is expanding the installed capacity to 12,000 Mw by 2013 from 6,000 Mw presently through various sources of energy.
“With demand exceeding supply, we have been facing a crunch in meeting the growing requirement for power across the state from utilities and end-users,” KPCL managing director S M Jaamdar said.
During the current financial year, KPCL is planning to commission the eighth unit of 250 Mw at Raichur Thermal Power Station (RTPS). The total capital expenditure for 2009-10 is pegged at Rs 1,800 crore, about 45 per cent more than last year.
Being more dependent on hydel generation KPCL is scouting for partners to set up a 2100 Mw gas-based thermal power plant at Tadadi in the coastal district of Uttara Kannada, about 550 km from here, he said. The mega project is estimated to cost about Rs 7,500 crore.
About 60 per cent of the state’s energy is generated from hydel sources, 30 per cent from thermal (coal) and the balance 10 per cent from wind, solar, and atomic power plant at Kaiga in Uttara Kannada district. Captive units and independent private producers chip in to meet the shortage.
A global tender for gas supply drew a good response, with 16 national and international firms showing interest in setting up a dedicated LNG (liquefied natural gas) terminal for the Tadadi project, Jaamdar said.
Firstly, to become self-sufficient, KPCL is setting up a 1200 Mw thermal power plant in Chattisgarh at an estimated cost of Rs 6,000 crore with coal from the state-run South Eastern Coalfields, which has mines in the northern region of the state. The project is expected to be completed in 36 months from the date of commissioning in mid-2010. The company has already acquired 1240 acres land at Chattisgarh and procured clearance for water.
Similarly, the company has decided to set up two mega thermal plants of 660 Mw each at Edlapur and Yermarus in Raichur district of north Karnataka in partnership with the state-run Bharat Heavy Electricals Ltd (BHEL). An additional 660 Mw unit will be set up at Yermarus subsequently.
KPCL also achieved financial closure for the second unit of Bellary Thermal Power Station (BTPS). The company has got a commitment of Rs 2,000 crore for the project from a consortium of banks.
KPCL, has reported a 34.4 per cent rise in its net profit at Rs 277 crore for the fiscal 2008-09 compared to the previous year. The operating profit for the year was up at Rs 392 crore, a growth of 56.8 per cent compared to the previous fiscal.
The corporation recorded a year-on-growth of 24 per cent in its revenues at Rs 4,148 crore compared to the previous year. KPCL recorded a marginal decline of 2.08 per cent in generation of power at 25,080 million units during the year 2008-09.
However, its total energy sales dropped by 2.53 per cent to 23,845 million units. While sales of hydel energy dropped by 11.15 per cent to 12,682 million units, sales of thermal power went up by 7.46 per cent to 10,714 million units. The average power tariff earned by the corporation during the year went up by 37.22 paise per unit to Rs 1.73 per unit.
The board of directors of KPCL has declared a dividend of Rs 20 per equity share amounting to Rs 14.87 crore.
