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KSK Energy Ventures Limited is in advanced stage of parleys for stake divestment in the KSK Mahanadi thermal power project.
The company stated that it is in discussions with a number of potential strategic and financial investors for collaboration/equity participation in the KSK Mahanadi project and progress has been made. The company is confident that with the support of its lenders, progress has been achieved in this aspect.
“Not only has the additional debt been sanctioned by the consortium of project lenders for KSK Mahanadi but also the interim disbursement has since commenced, enabling progress towards completion of the next 1200 MW capacity,” the company informed.
The company stated that as of September 2016, the operating assets generated 4990 GWh with an average portfolio plant load factor of 55 per cent, compared to 4026 GW with an average portfolio PLF of 44 per cent for the corresponding period last year.
As of September 30, 2016, it has a portfolio of KSK Mahanadi (1200 mw), Sai Wardha (540 mw), VS Lignite (372 mw), Sai Regency (86 mw), Sai Lilagar (86 mw), Sitapuram Power (43 mw) and a solar project of 10 mw.
The company stated that the first half of the current year has witnessed increase in gross generation at KSK Mahanadi power plant compared to the corresponding period last year, with other plants registering minor variations.
The anticipated gross generation could exceed this year and next financial year, the company management said.
Referring to the long term coal linkages at KSK Mahanadi, which in the short term have meant dependence on e-auction coal from Coal India and open market coal for balancing requirements, the Ministries of Coal and Power are working towards a new policy of coal linkages for power plants in the country.
Currently, KSK Mahanadi is meeting its entire coal requirements through e-auction and market coal.
KSK Energy shares closed at Rs 21.30, down 2 per cent at BSE.
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