Videocon Group, a consumer electronics giant, is planning to set up a 500MW power plant in its homeland, Maharashtra. It also expects to achieve financial closure for its Gujarat-based 1,200MW power plant by end-March.
“We are planning a power plant in Maharashtra,” said SM Hegde, director, Videocon Group. While declining to divulge further details, Mr Hegde said, “The exact location has not been finalised as land acquisition is the main concern for any power project, so we have to look into the land availability issue and other issues like coal transportation.”
Speaking about the group’s Gujarat-based 1,200MW power project, he said, “The financial closure for the first phase of 600MW has been achieved; the second phase’s financial closure is getting completed. After financial closure, power projects take another three and a half years to be commissioned,” he added.
Meanwhile, the Videocon Group is still awaiting financial closure for its 1,000MW power plant located in Chhattisgarh. The project sanctioned by the state government is still in the clearance phase which involves environmental clearances and coal-linkage issues.
Coal linkages for the group’s Gujarat project have been secured through coal imports from Indonesia. However, coal supply to the power plant planned in Chhattisgarh will be sourced from coal blocks in that area.
The group also has plans for a power plant in West Bengal. “Once the financial closure for the Chhattisgarh project is completed, we will move on to the other projects like the one in West Bengal,” added Mr Hegde. — Amritha Pillay