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PRESENT BUSINESS
 As
its maiden venture, the company has set up two thermal power
plants with a capacity of 210 MW each in the IB valley area
of Jharsuguda District in the State of Odisha (Ib Thermal power
Station) at a cost of Rs.11350 million. The locational advantage
of the power plant lies in its close proximity to the coal
mines as well as to the Hirakud reservoir. This gives the company
the distinct advantage of low cost of Raw Material leading
to low cost generation.
It
has also undertaken the construction of seven Mini Hydel stations
having a total capacity of 5075 kW as a technological demonstration.
The
entire generation from Ib Thermal Power Station is committed
to the state transmission utility GRIDCO on the basis of a
long term Power Purchase Agreement. Payment is secured through
an Escrow Account and revolving Letter of Credit.
| Shareholder |
Percentage |
No. of Shares |
Amount (In Rs.) |
| Govt. of Odisha |
51 |
92,94,737 |
929,47,37,000 |
| AES OPGC Holding (incorporated in Mauritius) |
44.63 |
81,34,059 |
813,40,59,000 |
| AES India Pvt. Ltd. |
4.37 |
7,96,178 |
79,61,78,000 |
| Total |
100 |
182,24,974 |
1822,49,74,000 |
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