Lanco to invest Rs18,000 crore to generate 3,000 MW of power by 2015
07 Apr 2008
New Delhi: Lanco Infratech Limited plans to invest around Rs5,000 crore to set up 750 MW of hydropower generation capacity by the fiscal year 2012 and increase it to 3,000 MW by 2015 at an estimated total investment of Rs18,000 crore.
The company, though, has a long way to go to fulfill its vision to have an installed 15,000 megawatt capacity by 2015.
Lanco, which currently generates 518 megawatt of power, is developing additional power projects with 7,500-megawatt capacity. The company has also identified other power projects for development, which would generate more than 7000 MW of power.
About 3,000 megawatt of the proposed 15,000 megawatt would be generated through hydel power projects, the company said.
Lanco has also tied up with eight banks including ICICI, Canara Bank and Punjab National Bank, who would finance its Rs3,000-crore Teesta VI HydroPower project in Sikkim.
The project expected to be commissioned by 2012, would generate 500-megawatt power. Teesta VI would sell the power to Maharashtra State Electricity Distribution Company through a 25-year power purchase agreement.
The group is also implementing other hydro projects of 742 MW capacities at various parts of the country. LANCO Infratech Limited, established in 1993, began as an integrated infrastructure developer, which later diversified to other segements including power, construction and property development.
Currently the group has 23 subsidiary companies across 12 states.
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