Mahagenco to invest Rs 50k cr to double gen capacity over 5 yrs

The Maharashtra State Power Generation Company (Mahagenco) plans to invest around Rs 50,000 crore over the next 5 years to double its generation capacity to around 20,000 MW.

Currently, Mahagenco has an installed capacity of over 10,000 MW with 6,800 MW thermal, around 2,500 MW hydro and over 850 MW gas-based power.

"We have chalked-out a plan for the next five years to double our generation capacity. We plan to invest around Rs 50,000-crore to augment capacity," a senior company official, who did not wish to be named, told PTI here today.

The company plans to add nearly 10,560 MW through joint ventures and the public-private partnership model, the official said.

Last year, Mahagenco signed a joint venture agreement with Bharat Heavy Electricals (BHEL) to set up 2x660 MW super critical power plant or 1,500 MW gas-based combined cycle power plant at Latur.

"We have also proposed to set up five thermal power projects -- one each in Ratnagiri (Dhopave), Dhule (Dondaicha), Gondia and two in Chandrapur district through the PPP model," the official said.

The company plans to install 3x660 MW units at Dhopawe, 5x660 MW at Dondaicha, 2x660 MW in Gondia and two 2x660 MW plants in Chandrapur district.

On its fund-raising plans, the official said, "We will raise the money through borrowings from Rural Electrification Corporation, Power Finance Corporation and also through bank lendings."