Hinduja Group invests heavily in India's power sector

LONDON, UK - Yet another of India's corporate stalwarts is investing in the power generation sector. The family-controlled Hinduja Group (London) is planning to invest about $10 billion in Indian power projects over the next 10 years to add about 10,000 megawatts (MW) of installed power and contribute to the 78,000 MW of additional power targeted for the country over the next five years.

The group, with widely diversified global interests, will start its foray into power with the 1,200 MW/2,000 MW Vizag project in Andhra Pradesh that was first discussed in 1994. The company is looking to secure an official coal-linkage agreement to feed the project from the Mahanadit coalfields. After the source and quality of the coal feed has been confirmed, bids will be invited for the power plant equipment. An agreement for land for the project has already been made with the state government.

Hinduja is also considering 4,000 MW ultra-mega power projects when the government invites bidding on specific power stations. The company is in negotiations with a number of state governments, including West Bengal, to set up a range of power projects.

The group employs 30,000 people worldwide and has interests in industries including autos, banking and finance, energy and hydrocarbons, IT and technology, media and entertainment, and real estate.

Related News

dwight ball

N.L., Ottawa agree to shield ratepayers from Muskrat Falls cost overruns

ST JOHNS - Ottawa and Newfoundland and Labrador say they will rewrite the financial structure of the Muskrat Falls hydro project to shield ratepayers from paying for the megadam's cost overruns.

Federal Natural Resources Minister Seamus O'Regan and Premier Dwight Ball announced Monday that their two governments would scrap the financial structure agreed upon in past federal-provincial loan agreements, moving to a model that redirects benefits to ratepayers.

Both politicians called the announcement, which was light on dollar figures, a major milestone in easing residents' fears that electricity rates will spike sharply when the over-budget dam comes fully online next year.
"We…

READ MORE
indian electricity

OPINION Rewiring Indian electricity

READ MORE

A tidal project in Scottish waters just generated enough electricity to power nearly 4,000 homes

READ MORE

Kevin O'Neill

Jolting the brain's circuits with electricity is moving from radical to almost mainstream therapy

READ MORE

sycamore solar power

Sycamore Energy taking Manitoba Hydro to court, alleging it 'badly mismanaged' Solar Energy Program

READ MORE