Hinduja Group invests heavily in India's power sector

subscribe

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

andrew cuomo

New York State Moratorium on Utility Disconnections During Emergencies

NEW YORK - Governor Andrew M. Cuomo has announced a proposal to prohibit utility disconnections in regions that are under a state of emergency as part of the 2021 State of the State. The Governor will propose legislation that will apply to electric, gas, water, telecommunications, cable and internet services. Utilities that fail to comply will be subject to penalties.

“In a year in which we dealt with an unprecedented pandemic, ferocious storms added insult to injury by knocking out power for hundreds of thousands of New Yorkers,” Governor Cuomo said. “Utility companies provide essential services, and we need to make…

READ MORE
power lines

Competition in Electricity Has Been Good for Consumers and Good for the Environment

READ MORE

trump-order-boosts-us-uranium-and-nuclear-energy

Trump's Order Boosts U.S. Uranium and Nuclear Energy

READ MORE

bcs-green-energy-ambitions-face-power-supply-challenges

B.C.'s Green Energy Ambitions Face Power Supply Challenges

READ MORE

suspected russians hacking usa power system

Russia suspected as hackers breach systems at power plants across US

READ MORE