Chairman Sanjiv Goenka said that the group had invested Rs. 95 crore in a 10.6-MW solar power project in Tamil Nadu.
The RP Sanjiv Goenka Group has “reached conclusive level of talks’’ for selling 520 MW of power out of the 600 MW project.
The first 300-MW unit of the project, being implemented by Dhariwal Infrastructure Ltd., a CESC subsidiary, at Chandrapura near Nagpur in Maharashtra, is set to be synchronised next month.
“We have contracted with Tamil Nadu (Tamil Nadu Generation and Distribution Company) for selling 100 MW at Rs.4.9 per unit, and have reached conclusive level of talks with two private entities for another 420 MW,” Group Chairman Sanjiv Goenka said after announcing CESC’s third quarter results.
Mr Goenka said that the group had invested Rs. 95 crore in a 10.6-MW solar power project in Tamil Nadu. It has a wind power project in Gujarat, and a solar power project in Rajasthan.
Referring to the 600-MW Haldia project, being implemented by another CESC subsidiary, he said that this would generate power from the third quarter of 2014.
Spencer’s, the retail arm of CESC, was affected by the overall slowdown but was doing better than the industry, Mr Goenka said.
CESC closed the third quarter with a net profit of Rs. 107 crore against Rs. 101 crore a year ago. Turnover increased from Rs. 1,040 crore a year ago to to Rs. 1,207 crore in the October- December 2013 period.