Reliance Power (R-Power) is on track for 5 GW in capacity by the end of 2012, its chairman Anil Ambani told shareholders at the group’s annual general meeting.
He added that the group would become the country’s largest private sector power generation and coal mining company in the next five years, with $17bn funding in place for its businesses.
R-Power’s 4 billion tonnes of captive coal resources in India and Indonesia would insulate the firm from fuel supply risks, he added. R-Power is to start coal production in India and Indonesia next year, he said.
The group’s bank of projects with land and other critical clearances totals almost 30 GW in capacity, he said.
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