26 July 2016 Current Affairs: Hinduja National Power Corporation Limited (HNPCL), part of the Hinduja Group, has commissioned its 1,040 Mw Power project at Visakhapatnam. The power plant consists of two units of 520 Mw each.
According to Ashok Puri, Managing Director, HNPCL, Unit-1 started supplying power to the grid in January 2016, and that currently both units are operational. He said the entire power generated by the project is being sold to state-owned southern and eastern power distribution companies of Andhra Pradesh.
The plant will cater to the growing power needs of industry in and around Visakhapatnam and the southern Region, which includes some of the fastest growing economies in the country.
The project cost is estimated at $1.25 billion and has been financed by a mix of debt and equity. A State Bank of India-led consortium of 15 Indian banks is a lender to the project, according to the company.
The project has been allocated coal by Mahanadi Coalfields Limited.
Andhra Pradesh is the first state to implement 24x7–Power for All Scheme. Its total installed capacity is 15,311.17 Mw and it aims to achieve 29,000 Mw by 2019.