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KSK Power Ventur plc, a power project company listed on the London Stock Exchange, with interests in multiple power plants and businesses across India, expects to generate 9 billion plus units of power in the current fiscal as against 5.5 billion units during the last year.
KSKPV in a filing with LSE said the imminent commencement of commercial generation from the first 600 MW unit at its Mahanadi project will ensure an additional 900 million plus units of generation by the group on a quarterly basis.
"The second 600 MW unit on this site is expected to be commissioned during the later part of the current financial year, which should also produce an additional 900 million plus units of generation on a quarterly basis."
"This should enable the Group to achieve gross energy generation of 9 billion plus units in aggregate during 2013-14 as against the 5.5 billion units achieved in the year ended 31 March 2013," KSK informed the exchange.
KSK has successfully synchronised its first 600 MW unit of 3.6 GW KSK Mahanadi Power with the National Grid on 18 May, 2013, and commercial production and supplies under the PPA are expected to commence very shortly.
"The management's immediate focus is to accelerate the commissioning of the second 600 MW unit of KSK Mahanadi to enable the Group to achieve an operational power plant portfolio of 2000 plus MW before the close of the current financial year," KSK further said.
KSKPV owns 74.94% of KSK Energy Ventures, the listed Indian subsidiary, which controls all the underlying power generation portfolio of approximately 4500 MW.
KSK Energy's consolidated net loss for the quarter ended June 30 widened to Rs 41 crore against Rs 2 crore during the first quarter of last fiscal on account of dwindled power generation.
Total income was down by 16% to Rs 477 crore during the quarter under discussion against Rs 569 crore in April-June quarter of FY 2013.
