L&T Power to invest Rs30,000 crore for 5,000 mw capacity by 2015

L&T Power Development Company, a subsidiary of India's largest engineering and construction company Larsen & Toubro (L&T), is planning to invest Rs30,000 crore in building new power plants of 5,000- megawatt (MW) capacity by 2015.

Disclosing this move at a media briefing yesterday in Mumbai, Larsen & Toubro's senior executive vice president A K Chhatwani said that the company expects its first power plant of 1,320-mw in Rajpura, Punjab to be commissioned by January 2014.

L&T Power expects the first thermal power project in Rajpura of 660 MW, which will be funded with a debt-equity ratio of 80: 20, to start in the first quarter of 2014 and the second plant of the same capacity to start three months after the first goes online.

The company had pumped in Rs2,000 crore through equity infusion in stages for the Rajpura project.

It is also setting up two more power plants of 1,600 mw each and the company aims to set up a total generating capacity of 10,000 MW by 2019.

One of the 1,600-MW power plants will be located in Chhattisgarh, while the location for the second plant is yet to be finalised, said Chhatwani.