Essar Power expects to swing to profits this financial year as 80% its capacity of 6,100-mw has commenced operations.
The company on Wednesday announced that its subsidiary Essar Power Hazira Ltd has commissioned second unit of 2×135 MW power project in Hazira, Gujarat. The first unit was commissioned in July last year.
Essar Power CEO KVB Reddy, said: “Over the last two years, increased coal availability, both from domestic and overseas suppliers, as well as the strong operational efficiencies harnessed by Essar Power’s world-class technical team have helped improve performance significantly.”
With commissioning of second unit, the 270 –mw multi-fuel Hazira power plant that is 100% captive to Essar Steel Hazira is now fully operational, a company statement said.
The plant can run on multiple fuels, like coal (both domestic and imported) and corex gas, simultaneously. The commissioning will bring down power procurement cost of Essar Steel and assure reliability and flexibility in steelmaking operations, the statement said.
