R-Power to buy R-Infra assets

Reliance Power on Friday said it would acquire 433 Mw of power generation assets from group company Reliance Infrastructure (R-Infra) for Rs 1,095 crore, to bring the entire power generation portfolio under one roof. Global consulting company KPMG valued the assets for the intra-group transfer, the company said in a statement.

The 433-Mw power generation assets include 220 Mw at Samalkot in Andhra Pradesh, 165 Mw in Kerala and 48 Mw in Goa, according to Reliance Power.

All the three plants have significant potential for capacity expansion. The assets are held by the subsidiaries of R-Infra and the transfer would take place after obtaining requisite approval.

With this, Reliance Power would have 1,033-Mw operating capacity, including 600 Mw from the Phase-I of Rosa Power Project in Uttar Pradesh. Reliance Power is implementing power projects of over 35,000 Mw.

The company said the 220-Mw combined cycle gas-based power plant at Samalkot in Kakinada district of Andhra Pradesh, had been supplying power to AP Transco under a 15-year power purchase agreement (PPA).

The 165-Mw combined cycle gas based power plant, located near Kochi in Kerala, has a 15-year PPA with Kerala State Electricity Board.

The third one has been supplying power to the Goa government and various industrial consumers in the state.