Public sector Neyveli Lignite Corporation (NLC) would soon commission two power projects at a total cost of Rs 10,000 crore, taking its total generation capacity to 4,240 MW, a top official said today.
“We are likely to commission a 250 MW lignite-based power plant shortly in Neyveli. Another project is at Tuticorin where we are coming up with a 1000 MW project. It is likely to be commissioned in the coming weeks”, NLC Chairman and Managing Director B Surender Mohan told reporters here, declaring the company’s financial results.
“Total project cost is around Rs 6,500 crore for Tuticorin project and Rs 3,500 crore for 250 MW lignite based power plant project”, he said.
Stating that trial runs were going on at the power plants, he said Tamil Nadu would get its share of 387 MW power from Tuticorin plant once it was connected with the grid while the remaining would be distributed to other states.
“With the commissioning of the two projects, the power generation capacity will be raised to 4,240 MW (from the present 2,990 MW)”, he said.
To a query, Mohan said, “a sum of Rs 4,200 crore was alloted under capital expenditure plans”.
Listing out some of the major decisions cleared by the Board, he said it approved setting up of Bithnok Lignite Mine with capacity of 2.25 million tonne of lignite cum thermal power project 2×125 MW to be set up at a cost of Rs 2,700 crore.
“The Board approved to establish Barsingsar Thermal Power Station Extension 1x125MW and Lignite Mine at Hadla (1.9 million tonne of lignite) at Rs 2,628 crore”, he said.
On the projects taken up in the renewable energy space, he said, “Eight units of wind power with a capacity of 12 MW, out of the 51 MW capacity have been commissioned so far”.
The company has also issued Letter of Approval for establishing solar power project at Neyveli and the site clearance work has been completed.
NLC reported 36.8 per cent rise in standalone net profit at Rs 676.81 crore for the quarter ended March 31, 2015.
The company’s standalone net profit in the year-ago period was Rs 494.43 crore.
The total income from operations declined to Rs 1,682.09 crore from Rs 1,709.89 crore in the corresponding quarter of FY14, it said.
The consolidated net profit for the full fiscal ended March 31, 2015 increased to Rs 1,579.68 crore, as against Rs 1,501.88 crore in the year-ended March 31, 2014.
The total income from operations for the year-ended March 31, 2015 increased to Rs 6,087.68 crore, over Rs 5,967.23 crore in the year-ended March 31, 2014.