RPG plans to enter hydel power sector,invest Rs 15,000 cr

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.

With RPG’s entry into the hydel and non-conventional energy,the power capacity of the plants would increase by 6,000 MW over the next few years,Goenka said.

The proposed power projects would be funded by the firm in a 1:2.3 debt-equity ratio.

He also 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,” Goenka said.

However,the company does not propose to enter into the “ultra-mega power project space”,he said in reply to a query.

Pointing out that the industry was slowly recovering from the global economic slowdown,Goenka 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.