Lanco Amarkantak Power (LAPL), an arm of Lanco Infratech, has started power supply to Haryana discoms from its Amarkantak plant in Chhattisgarh.
“With the commencement of power supply to Haryana discoms at regulated tariff from this pit-head plant, the entire 1,800 MW operating coal-based power portfolio of Lanco is now utilised to its full capacity with fuel pass through”, Lanco Infratech said in a BSE filing today.
Power will be supplied to the discoms from 300 MW Unit-2 of Amarkantak plant.
“This move is going to be profit assertive for the company in the coming quarters as it will double the revenues of Lanco Amarkantak to around Rs 1,200 crore and increase EBITDA by around Rs 200 crore for full year of operations”, Lanco Infratech Chairman L Madhusudhan Rao said.
He further said: “The current fiscal is very good and path breaking for us. We reported a profit after 12 consecutive quarters of losses, a turnaround which was made possible by a noteworthy spurt in EPC revenues and favourable regulatory orders.”
In September, the Supreme Court directed the South Eastern Coalfields to supply coal to the 300 MW Amarkantak Unit-2, treating it as a unit having a subsisting long term PPA (power purchase agreement).
LAPL on September 24, 2015, executed the documentation for flexible refinancing with its lenders for 2 x 300 MW Unit 1 and 2.