NLC India has lined up a capex of Rs 19,202 crore for its upcoming coal-based power plants in Odisha, said M Prasanna Kumar, the Chairman and Managing Director of NLC India in an interview with CNBC-TV18.

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NLC India already operates a coal mine in Odisha, and aims to capitalise on this by initiating the development of three separate 800-MW coal-based thermal power projects in Stage 1. Additionally, the company intends to add another 800 MW in Stage 2, bringing the total capacity to 3,200 MW.

For the 2,400 MW project in stage 1, NLC India has successfully secured a 100% power purchase agreement (PPA), with a 400 MW PPA signed with GRIDCO.

The total capital expenditure (Capex) allocation for the Odisha project stands at Rs 19,202 crore. The company is currently in the process of finalising land acquisition and anticipates commencing the tendering process by December.

“The total outlay is Rs 19,202 crore and we are in the process of acquiring the land for the plant and the tendering process is on. We are expecting to finalise the tender by December end,” he stated.

The project is expected to be completed in 42-44 months.

In a recent interview with the Hindu Business Line, Lignite and power major NLC India talked about its Corporate Plan 2030, under which it proposed a massive capex of Rs 82,174 crore for enhancing mining, power generation, and diversification businesses.

The project's initial cost will be modest, but thereafter, it is anticipated to range from Rs 5,000-6,000 crore annually over the next three to four years.

The Ghatampur plant is set to have all three of its units in operation by the upcoming year, and it is expected to provide an annual contribution of Rs 500-600 crore in the future.

The company has a pilot project focused on producing Green Hydrogen in Neyveli.

“The solar plant required for that green hydrogen plant is commissioned. We are going for a green hydrogen plant of 4 MW. We are expecting that by quarter one of the next financial year (FY25), we will be able to commission that pilot project and based on the results we will further expand on the green hydrogen plan,” he mentioned.

In terms of plant load factors (PLF), the coal-based power plants are doing better than last financial year, he added.

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(Edited by : Shweta Mungre)