Adhunik Power and Natural Resources, a subsidiary of Adhunik Metaliks Ltd, is expected to complete the first phase of its power project by April 2013. The company is setting up a 1,080 MW (4X270 MW) coal based power units at Padampur in Saraikela Kharsawan district of Jharkhand in two phases. In the first phase the company will set up 2X270 MW thermal power generation capacity. First unit of the first phase has already started commercial operation last month and the second unit is expected to become operational by April. BHEL is BTG supplier for the project.

Coal for the thermal station will be sourced from allotted coal block at Ganeshpur in Jharkhand which will be developed in joint venture with Tata Steel. Land for mining has already been acquired and mining plan has also been approved by the ministry. After getting all clearances and approvals, the mining project is expected to become operational by the first quarter of FY 2015. The company has also secured tapering coal linkages from Coal India to meet its near term coal requirements. Currently, the process procuring environment clearance is in progress. First phase is estimated to cost Rs 3,151 crore and the company has already tied up both equity and debt required for the first phase. Also PPA for 423 MW has already been signed.

Courtesy: project monitor