Adani Power to add a maximum of 4,000 MW in FY12: CFO

Adani Power to add a maximum of 4,000 MW in FY12: CFO

Mumbai: Adani Power Ltd expects to add a maximum of 4,000 MW in FY12, while it posted a 78% rise in Jan-March on higher operational efficiencies, a top official said on Monday.

“We will actually add 2,640 MW capacity in Mundra alone. The total addition to capacity will be 2,640 MW, plus 1,320 MW at Tiroda, which will be around 4,000 MW," its chief financial officer Prabal Banerji told Reuters.

At present, the company has a total of 2,000 MW under operations and the addition of another 4,000 MW will take it to around 6,000 MW by the end of 2011-12, he added.

The utility firm’s Jan-March net profit rose 78% to 174 crore.

Higher perational efficiencies leading to a plant load factor of over 91%, an appreciation of rupee (the company imports coal) and an “efficient execution" of projects among other factors contributed to quarter’s gains, he said.

The company’s 18-20% of power production is sold on a merchant basis—power sold in open market—which was higher during the quarter.

Its gross debt as on 31 March stood at 17000 crore, which is slated to rise as it commissions new projects, Banerji added.

In March, the Ahmedabad-based company had tied up debt for its 13,200 MW projects and would complete installation of 10,000 MW by March 2013.

Adani Power’s shares closed up 2.18% at 110.20 in a steady Mumbai market.