Reliance Announced Quarter Financial Results

OREANDA-NEWS. May 28, 2012. Reliance Power Limited, a Reliance Group company,  announced its financial results for the quarter and year ended March 31, 2012. The company's Board of Directors approved the financial results at its meeting here today.

Performance highlights include:

Announcing the results, J.P. Chalasani, the Chief Executive Officer of Reliance Power, said; "We have successfully completed commissioning of the 1,200 MW Rosa plant in Uttar Pradesh four months ahead of PPA schedule again showcasing our strong project execution abilities. The 600 MW Rosa Phase I plant operated at an availability of over 86% for the year and generated net profit of 335 crore. We have successfully commissioned India's largest Solar photovoltaic project, a 40 MW project in Rajasthan, in just 129 days and are well on track to become a 5,000 MW operating company by end of 2012."

FY2011-12 Highlights Operating Capacity

•           600 MW Rosa Phase I operated at a PLF of 80.3% generating 4,233 million units (MUs) of power compared with 2,843 MUs in the previous year

•           Operating revenues from Phase I has almost doubled to f 1,931 crore from f 1,023 crore in the previous year.

•           Net profit for Phase I at f335 crore from f 131 crore in the previous year.

•           600 MW Rosa Phase II commissioned in March 2012, four months ahead of ahead of PPA schedule

•           40 MW Solar PV project commissioned in March 2012 in a record time of just 129 days from start of construction. The project was fully financed by debt from US-Exim and ADB.

Capacities under Construction:

•           Steam blowing has been completed for the first 300 MW unit of the 600 MW Butibori project in Maharashtra and the unit is expected to be synchronized in this quarter.

•           Two of the gas turbines of India's largest gas-based project - the 2,400 MW Samalkot Power Project in Andhra Pradesh synchronized while two more gas turbines tested at Full Speed No Load (FSNL).

•           A major milestone in the construction of the 3,960 MW Sasan Ultra Mega Power Project (UMPP) in Madhya Pradesh got accomplished with the successful completion of the boiler hydro test of the first 660 MW unit which is expected to be commissioned ahead of schedule by December 2012.

•           Major large sized equipment - rope shovels, dumpers, etc, deployed at the Sasan coal mines. Over 38 lakh m3 of overburden already removed and coal production expected to commence in the next quarter.

Reliance Power Limited, a part of Reliance Group, is India's leading private sector power generation company. The company has the largest portfolio of power projects in the private sector based on coal, gas, hydro and renewable energy, with an operating portfolio of 1,240 MW. The company also has the largest captive coal reserves in the private sector, estimated at more than two billion tonnes. Besides, the company has purchased three coal mines in Indonesia and also has plans to develop coal bed methane based generation capacity.