Neyveli Lignite to enter hydel, wind power sectorsJune 20th, 2009 - 10:15 pm ICT by IANS
Chennai, June 20 (IANS) Mining-cum-power company Neyveli Lignite Corp (NLC) is planning to enter hydel, wind and nuclear power generation, a top official said here Saturday.
“We are interested in setting up a 1,000-MW hydel power project in Uttarakhand partnering with the state government. We will also get into wind power with a 50-MW farm near Tuticorin (Tamil Nadu),” A.R. Ansari, chairman-cum-managing director of NLC, told reporters.
V. Sethuraman, director (power) of NLC, said: “The wind energy project is mainly for meeting the power needs of NLC’s 1,000 MW power project being set up in Tuticorin.”
NLC may buy around 30 windmills for the project.
Sethuraman added that the company would also participate in tariff-based competitive bidding to take up ultra mega power projects (UMPP) floated by the power ministry.
“We may partner with equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) and jointly bid for UMPPs,” he said.
The company had decided to enter into the nuclear sector as well, but it would take one more year to finalise plans, Sethuraman added.
During 2008-09, the company posted a lower profit of Rs.821.09 crore as against Rs.1,101.57 crore recorded the year before.
NLC’s turnover last year stood at Rs.3,354.01 crore compared to Rs.2,981.65 crore in 2007-08.
“Last fiscal was really a tough year for us. Mining was affected due to heavy rains last November resulting in a revenue loss of Rs.293 crore apart from the successive labour strikes at our plant,” Ansari said, explaining the fall in profits.
NLC is planning expand its power generation capacity to 10,000 MW by the end of 12th plan period at an investment of Rs.40,000 crore, he added.
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