Rattan India Group is a business conglomerate with business interests in power generation and finance. RattanIndia Power is developing coal-based thermal power projects in Amravati and Nasik, Maharashtra. Just to put the figures in perspective, it has 3,235 acre of land under possession for the power generation projects having a total installed capacity of 2,700 MW. Further, it has coal linkage from Coal India for 5,400 MW and lastly, it owns a 70 km of railway line for both the thermal power projects.
Amaravati Thermal Power Project is being setup by RattanIndia Power (formerly known as Indiabulls Power) at the additional Amravati industrial area. The total capacity of the plant is 2,700 MW, comprising of two phases each of 1,350 MW. Phase 1 with installed generation capacity of 1,350 MW has already been commissioned. The generation capacity of 810 MW was commissioned in a span of just 39 days which is a national record. It has 5 units of the best in class BHEL, each with a capacity of 270 MW.
Nashik Thermal Power Project is being setup by RattanIndia Nasik Power (formerly known as Indiabulls Realtech), a subsidiary of RattanIndia Power. The total capacity of the project is 2,700 MW in 2 phases, each of 1,350 MW with each phase comprising of 5 units each of 270 MW. All five units of Phase 1 have been commissioned. As regards to the performance highlights in FY18, with 2,700 MW commissioned capacity (Amaravati and Nashik Phase 1 each of 1,350 MW), the company is amongst the top 10 IPP generators in India.
On the financial front, EBITDA from Amaravati plant for FY2018 stood at Rs 8.24 billion. As regards the PLF, the plant was available 100 per cent. However, the shortage of coal resulted in less despatch than the scheduled capacity. The company expects to claim the difference as a part of the ongoing case related to the short supply of coal under the coal linkage.
Apart from this, RattanIndia has a solar portfolio of more than 300 MW of solar power projects which includes ground mounted solar projects as well as rooftop solar. While 154 MW of ground mounted solar plants are under development, 116 MW capacity solar plants are already operational. GE Energy Financial Services (GEEFS) is one of the investors in their projects and will be investing more than USD 90 million to develop the solar power portfolio of 500 MW.
RattanIndia already owns 1,100 acre of land, exclusively for solar and 300 acre of additional land acquisition is in pipeline. For 70 MW, 50 MW and 50 MW of ground mounted solar projects in Rajasthan, Karnataka and Maharashtra, respectively; additional 850 acre of land has been provided by the nodal agencies.
RattanIndia is also implementing more than 32 MW of grid connected solar rooftop projects. The Group is now actively engaged in bringing the benefits of cheaper and cleaner energy to the people through rooftop solar solutions. RattanIndia and GEEFS are partnering to develop 500 MW solar assets in the ratio of 51:49. GEEFS will be investing USD 90 million for the 500 MW solar portfolio and has already invested money in 210 MW solar projects of RattanIndia, located in the Government Solar Parks.
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