Lanco Infratech is making a big push into the power sector to increase its topline growth. It has plans to set up coal-fired mega super-critical thermal power plants in Tamil Nadu and Andhra Pradesh. Besides, the company is also eyeing power ventures in Madhya Pradesh, Gujarat and Jharkhand.
Though the capacity, investment and the exact location of the projects are yet to be finalised, the idea of the company is to achieve an operating capacity of 4,000 mw by the end of March 2011.
Currently, Lanco has an installed capacity of 2,087 mw. Besides the coal-based thermal power projects, the company is planning to have gas-based combined cycle power plants in Andhra Pradesh, Karnataka and Maharashtra.
Lanco Infratech chairman L Madhusudhan Rao said the company is looking at getting new projects of at least 6,000 mw capacity in the advanced stage of development and achieve financial closure for these projects by FY12. It has already lined up brownfield and greenfield initiatives. It has Udupi II (1,320 mw), Fatehpur (1,320 mw), Babandh II (1,320 mw) and Anpara II (660 mw) power plant projects in the development radar.
Lanco had recently synchronised its 366 mw Kondapalli II power project in Andhra Pradesh.It had also tied-up funds for its Rs 6,930 crore, 1,320-mw, coal-fired power project to be set up in Dhenkanal district of Orissa with a consortium of lenders led by ICICI Bank. The company is developing the project through a special purpose vehicle, Lanco Babandh Power, a wholly-owned subsidiary of the company.
Besides the domestic market, the company is also eyeing international market in a bigway. The infrastructure company had, in fact, recently partnered with an Indonesian coal mining company Bukit Asam to bid for a 600 mw power project.