AES, Odisha invest additional Rs 485 crore in OPGC equity

This infusion has come as part of the equity requirement for financial year 2016-17

Odisha Power Generation Corporation (OPGC), a 51:49 joint-venture between the Odisha government and the US-based AES, has expanded its equity base by Rs 485 crore with proportionate additional capital infusion by both the shareholders.

The equity infusion was required to support the investment for capacity expansion of the company's thermal power station, which is underway.

OPGC runs a 420 Mw coal-based thermal power plant at Ib Valley in the Jharsuguda district and is in the process of expanding the capacity by 1320 Mw (2X660 Mw). The funding of the expansion project, along with development of captive coal mines, is estimated to cost Rs 11,547