The power generation is expected to double by the first week of October 2008, from the current level of about 620 mw. The steam turbine of power block III would be put on stream and the power block would be generating about another 600-620 mw. This will ease the shortage of power situation in the state of Maharashtra. One gas turbine each of power block I and II are expected to be revived by the end of this year, when all the six gas turbines and three steam turbines would be on stream, said R K Goel, Chairman of Ratnagiri Gas & Power Private Limited (RGPPL) on the conclusion of the third Annual General Meeting of the Company.
It was also decided that the company is targeting to bring commissioning-cargo of LNG in the early part of the year 2009. The LNG terminal without breakwater would be operational soon. It is expected that the breakwater would be commissioned by 2011. The revival cost of Rs. 870 crore estimated at the time of take over of assets, has now been estimated at Rs 2,364 crore. RGPPL was sanctioned a term loan of Rs.1400 crore by Power Finance Corporation Limited (PFC) in January 2006, to meet the expenditure on revival/completion of the project
During FY08, the company achieved a turnover of Rs 1,084 crore and operating profit before interest and depreciation was Rs 386.2 crore. Due to operation of power blocks only during part period in the year and low capacity utilization, the company incurred a net loss of Rs 15.3 crore.
