GVK is a leading Indian conglomerate with diversified interests across various sectors including energy, resources, airports, transportation, hospitality and life sciences. It has taken pioneering initiatives across many sectors that it operates in and has overcome every challenge to provide reliable infrastructure to contribute to the country’s growth. GVK’s greatest strength is its highly experienced and proficient in-house talent pool. GVK’s collaboration with global infrastructure leaders has brought international expertise to India reflecting excellence and advancement in all its endeavours.
The company is one of the front runners in the iron and steel sector in the eastern region and features amongst the largest manufacturers of ferro alloys in the country. The Group has also diversified into several core infrastructure sectors such as power (biomass, waste heat, thermal and hydel), cement, logistics and industrial parks.
Avaada Power Pvt Ltd (Avaada) is a Vineet Mittal group entity. Avaada, as on January 30, 2017, holds 27.70 per cent in Welspun Energy Private Limited (WEPL, rated CARE A+, Stable - CARE A1+) the former holding company of WREPL. WEPL is engaged in the business of EPC, generation of power through renewable resources which includes but not limited to generation of power using coal as raw material or generation of solar, wind, hydro power, distribution, trading and transmission etc.
The company is an Independent Power Project (IPP). As a backup arrangement, the company has created naphtha storage and handling facility for duel fuel operation of the plant.
The company is engaged in power generation. The company operates a natural gas based combined cycle power plant located at Ravulapalem near Rajahmundry with a generating capacity of 460 MW. Phase I of the plant consists of two gas turbine generators manufactured by Siemens and a steam turbine generator of LMZ Russia. Currently, company is focused on undertaking the expansion of the 820 MW power plant consisting of two combined cycle modules. It has a power purchase agreement (PPA) with AP TRANSCO to purchase power at 85% plant load factor, for a period of 23 years.
The company is into Power Generation.
Spectrum Power Generation Ltd (SPGL) is one of the eight fast track private sector power projects approved by the Government of India. The company was formed and incorporated on October 26, 1992 to develop, construct, own and operate a dual fuel fired combined cycle power plant using Gas and Naphtha. The installed capacity of the plant is 208MW with a configuration of three Gas Turbines and one Steam Turbine.