CESC plans to raise Rs.1,200 crore in equityDecember 7th, 2010 - 9:31 pm ICT by IANS
Kolkata, Dec 7 (IANS) Power utility CESC, an RPG Group company, Tuesday said it was planning to raise Rs.1,200 crore in equity to fund its proposed projects worth Rs.35,000 crore (about $7.8 billion).
CESC vice chairman Sanjiv Goenka said the company was aiming to reach a thermal power capacity of 6,500 MW, hydro power capacity of 500 MW, and a solar energy capacity of 200 MW in the next five years.
“This will entail a total investment of Rs.35,000 crore,” he said.
He said as per a 3:1 debt-equity ratio, the company and its subsidiaries will need Rs.8,700 crore of equity to implement the projects.
“We foresee a tentative gap of Rs.1,200 crore. Rs.5,500 crore will come from our internal accruals, and Rs.2,000 crore from private equity capital. The rest will be raised in equity,” he said.
Goenka, however, did not mention any timeframe for raising the sum.
- CESC sees 11 percent rise in profit before tax - Feb 10, 2011
- Shanghai Electric, Punj Lloyd bag CESC projects - Feb 10, 2011
- Sanjiv Goenka launches new group (Lead) - Jul 13, 2011
- CESC gears up to handle 3,000 MW distribution capacity - Jul 27, 2012
- CESC posts Rs.102 crore net profit in third quarter - Jan 22, 2010
- CESC net up 137 percent in Q4 backed by tariff hike - May 08, 2012
- Haldia Energy to raise Rs.1,000 crore - Nov 03, 2010
- Sanjiv Goenka launches new group - Jul 13, 2011
- BGR Energy cuts capex for JVs with Hitachi - Aug 09, 2012
- Phillips Carbon Black profit slumps - May 03, 2011
- CESC acquires two hydroelectric projects - May 16, 2012
- CESC posts Rs.126 crore net profit in quarter two - Oct 29, 2009
- India to launch 16 new nuclear reactors - Jun 01, 2012
- CESC revives Balagarh power project in West Bengal - Apr 29, 2010
- Shanghai Electric to supply equipment for Haldia plant - Sep 15, 2011
Tags: accruals, crore, debt equity ratio, energy capacity, gap, goenka, group company, hydro power, mw, next five years, private equity capital, rpg group, sanjiv, solar energy, subsidiaries, timeframe, vice chairman