The three power utilities in Maharashtra plan to invest around Rs 60,000 crore on generation, distribution and transmission systems to make the state power surplus by 2012. | |
| The plan was unveiled by Energy Minister Dilip Walse-Patil on the occasion of the first anniversary of unbundling of the Maharashtra State Electricity Board (MSEB). |
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| "Around one-and-a-half years ago, when the state was going through its biggest energy crisis, I made a presentation and estimated that we would need to invest around Rs 55,000 crore in the sector over the next five years to become energy surplus. Today, I can proudly say that we have the plans and resources to make the state power surplus in five years." |
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| Patil said they planned to invest around Rs 29,000 crore on generation, Rs 12,105 crore on distribution and Rs 17,000 crore on transmission. |
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| "In the first three years, we will invest around Rs 7,568 crore on the distribution network. Of this, Rs 5,000 will come from the Power Finance Corporation of India (PFC) and Rural Electrification Corporation (REC) of India. We have signed the MoUs for this," Patil said. |
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| He said at the end of the first phase, they intended to bring down distribution losses from around 27.5 per cent to under 25 per cent. |
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| The state Cabinet has also cleared plans for generating 2,000 mw at a cost of Rs 10,000 crore. "PFC and REC will provide loans of up to 80 per cent of the total investment while the state government will contribute 20 per cent as its equity in the generation company, Patil said. |
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| "We intend to add 5,500-mw generation capacity at a total investment of Rs 19,000 crore in the second phase. Talks for getting finances for these projects are on course," he said. |
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| On the transmission network, he said, "We wish to take up a massive upgrade by replacing old high-voltage lines which have not been replaced for three decades, installing new transformers and equipping the transformer stations with capacitors," adding that the modernisation of the transmission network would cost around Rs 17,000 crore. |
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