New Delhi: Hinduja Group will invest $10 billion various power projects across India in the next ten years, starting with setting up of 2,000 MW generation capacity in Andhra Pradesh.
The group, run by London-based Hinduja family, will create a power generation capacity of 10,000 MW over the next ten years, for which it is negotiating with 7-8 states, its global president G P Hinduja told PTI in an interview.
“The first of this would be the 2,000 MW Vizag project in Andhra Pradesh,” he said.
“The group’s total investment in the country’s power sector would work out to be around $10 billion (around Rs40,000 crore), given the average cost of about one billion dollars for creating 1,000 MW capacity,” Hinduja added.
The group will also consider bidding for upcoming ultra- mega power projects (UMPPs) as and when the government invites bids for the same, he said, adding that any decision in that regard would be taken only after the bids are invited and on a case-to-case basis.
While Hinduja did not wish to comment on the current status of the group’s Vizag project, it is understood that the application for coal linkage has been recommended by Central Electricity Authority and is awaiting the nod of Coal Linkage Committee.
Out of the group’s overall 10,000 MW power generation plan, Vizag project is expected to be the first to reach financial closure.