AP Genco has achieved a turnover of Rs 11,381 crore for 2011-12, up 25 per cent over last year. Thereby, it has become a $ 2.2 billion plus State-owned power utility.
The corporation achieved a net profit of Rs 401 crore, up 28 per cent, mainly due to increase in plant load factor and bringing about internal efficiencies without hiking tariffs.
Capital expenditure
The Managing Director of AP Genco, Mr K. Vijayanand, said the corporation has incurred a capital expenditure of Rs 3,640 crore during 2011-12, limiting the borrowings and redeploying funds from internal accruals. It also managed to discharge Rs 401 crore worth bonds from its reserves.
Addressing a press conference, Mr Vijayanand said that the corporation managed a plant load factor, a measure of efficiency of over 80 per cent. This is more than the national average of 72 per cent. During the XI Plan period ended March 31, 2012, the corporation managed to add a record capacity of 2,373 MW. About Rs 12,500 crore was invested during the period.
The Joint Managing Director of AP Genco, Mr Prabhakar Rao, said 3,000 MW of new capacity is in advanced stage of implementation. This includes 2x800 MW at Krishnapatnam, 800 MW at Bhoopalapally and 600 MW of Rayalaseema thermal power corporation. All these are likely to be completed in the next financial year.
Expansion projects
The corporation has tied for finances and coal linkages and is confident of deploying expansion projects on time. In all six projects with an outlay of Rs 17,488 crore are under construction. “Instead of taking up new projects, which result in delays, we are preferring to expand at existing plants,” Mr Rao said.
In addition, six more projects of 7,242 MW capacity with an outlay of Rs 35,263 crore are under development and five projects of 6,800 MW capacity are under investigation.
Referring to the Vodarevu 4,000 MW power plant, Mr Rao said, “All mandatory clearances, including environmental, have been secured for the project. Once we mange to acquire the land for the project, we would be able to implement it.”
While the average cost of generation of AP Genco thermal plant is Rs 3.10/unit and Rs 1.42/unit in case of hydel projects. This is amongst the lowest in the country, they added.