CESC Ltd, the flagship company of the RP-Sanjiv Goenka Group, will make operational the first phase of its Chandrapur (Maharashtra) project by June this year at an estimated cost of nearly Rs 3,300 crore.
The project will be built in two phases of 300 MW each. Its second phase is expected to be operational around October.
According to Goenka, CESC will commission the first phase (300 MW) of its Haldia (West Bengal) unit by September 2014; the second phase — 300 MW — around December next year.
“Our projects are on course and we are looking to increase the share of renewable in our business,” he said.
Renewables
According to him, CESC plans to make operational a 10-MW wind energy unit at Jaisalmer by March this year. The unit is a part of the group’s proposed 50-MW wind power project (estimated investment of Rs 300 crore) in Jaisalmer.
Around 14 MW has already been commissioned. A 25-year PPA (power purchase agreement) is likely to be signed with the Jaipur discom soon, he added.
Q3 results
CESC, meanwhile, reported a 36 per cent increase in net profit at Rs 101 crore for the quarter ended December 31, 2012 compared with Rs 74 crore reported in the corresponding quarter last fiscal. Income from operations increased by around 6 per cent to Rs 1,040 crore (Rs 983 crore).
The CESC stock closed at Rs 317.15, down 1.64 per cent on the BSE on Tuesday.