 "Lanco Amarkantak unit 2 starts power supply to Haryana")
Lanco Amarkantak Power, a step-down subsidiary of Lanco Infratech, has started power supply to Haryana discoms at regulated tariff from its Chhattisgarh plant.
Power will be supplied to the discoms from 300 Mw Unit-2 of Amarkantak plant. With this, the entire 1,800 MW operating coal-based power portfolio of Lanco is now utilised to its full capacity. Lanco Amarkantak hopes to double its annual revenue to around Rs 1,200 crore and increase operating income by around Rs 200 crore.
“The current fiscal is very good and path breaking for us. We reported a profit after 12 consecutive quarters of losses, a turnaround which was made possible by a spurt in EPC (engineering, procurement and construction) revenues and favourable regulatory orders,” said L Madhusudhan Rao, Chairman, Lanco Infratech Limited, in a statement.
Lanco Amarkantak hopes to double its annual revenue to around Rs 1,200 crore and increase Ebitda by around Rs 200 crore.
In September, the Supreme Court directed the South Eastern Coalfields to supply coal to the 300 MW Amarkantak Unit-2, treating it as a unit having a subsisting long term PPA (power purchase agreement). LAPL on September 24, 2015, executed the documentation for flexible refinancing with its lenders for 2 x 300 MW Unit 1 and 2.
Gurgaon-based Lanco has been driving growth in the domains of EPC, power, solar, natural resources and infrastructure over the last two-and-a-half decades. The current power portfolio of Lanco has capacities of 3,460 MW under operation and 4,636 MW under construction.
