RPG Enterprises proposed to invest Rs 15,000 crore in the power sector in five states in the next five years, including hydropower and non-conventional forms of energy, a top company official said today.
“We are considering entering the hydel sector. We have not finalised the locations. We already have 1,200 MW capacity.
The new projects will come up in Orissa, Jharkhand, Bihar, Maharashtra and Bengal. The total investments will be Rs 15,000 crore”, RPG Enterprises Vice Chairman Sanjay Goenka told reporters here.
With RPG’s entry into the hydel and non-conventional energy, the power capacity of their plants would increase by 6000 MW over the next few years, Mr. Goenka said.
The proposed power projects would be funded by the company in a 1:2.3 debt-equity ratio.
He said the company was open to “acquisitions” in the power sector if it got an opportunity to widen its space. “We are looking at acquiring companies if we get an opportunity. We just acquired a company in Maharashtra to set up a 600 MW power plant in Nagpur”, he said.
To a question, he said the company does not propose to enter into the “ultra-mega power project space“.
Stating that the industry was slowly recovering from the global economic slowdown, he said one should not ignore the fact that the industry was coming out of the “negative sentiment” of the consumer.
“We hope complete recovery would take place at least six months from now”, he said.
Mr. Goenka was here to participate in the 36th Annual Management Convention, organised by the All India Management Association on Friday.