THDCIL Celebrates Remarkable Achievements; Unveils Ambitious Roadmap
Rishikesh: THDCIL presented its Annual Report for the FY 2022-23, marking a year of exceptional success and transformative progress. This year has seen significant milestones achieved across various dimensions of THDCIL operations.
Shri R.K Vishnoi CMD, THDCIL while addressing the company’s Stakeholders informed that, during the Financial year 2022-23, we achieved a cumulative energy generation of 4,935.48 million units (MU), marking the highest level of output in the past nine financial years. A remarkable milestone was reached by the Tehri Hydro Power Plant (1000 MW), which achieved a record daily generation of 25.80 MU on August 2, 2023, even after 17 years of continuous operation, a testament to our plant's resilient maintenance and operational strategies.Read Also : GRSE Hosts First-Ever National-Level QCC Competition for Defence PSUs
Our commitment to excellence is further evidenced by our financial achievements. We exceeded our capital expenditure (CAPEX) targets for FY 2022-23 by an impressive 43.9%, with capital expenditures amounting to Rs 4,615.02 Cr, significantly surpassing the target of Rs 3,207.54 Cr. Furthermore, Tehri HPP and Koteshwar HEP achieved Plant Availability Factors (PAFs) of 84.09% and 68.62%, respectively, surpassing the normative figures of 80% and 68%.
We are excited about the progress in our upcoming projects. The first unit of Tehri PSP (4x250 MW) was successfully boxed up on 30.03.2023. Additionally, we are in the final stages of commissioning the first pumped storage plant in the central sector with a 1,000 MW capacity in Tehri, Uttarakhand. The first two units of Tehri Pumped Storage Plant (4x250 MW) are set to be commissioned in FY 2023-24, with the remaining two units to follow by June 2024.
THDC India Limited (THDCIL) is pleased to announce significant progress in our ongoing projects. In Khurja Super Thermal Power Plant (STPP), the successful Boiler Hydro Test of the first unit was completed on 15th March 2023, with plans for Boiler Light Up in November 2023.
We have ensured readiness for water supply from the Ganga canal to Khurja STPP and have operational Transmission Lines and Substations for efficient power evacuation. Meanwhile, our coal extraction at Amelia Coal Mine began six months ahead of schedule on 18th February 2023, and we've dispatched around 1.25 lakh tonnes of coal to NTPC.
Additionally, mining operations using the Tunnel Boring Machine (TBM) in the Vishnugad Pipalkoti Hydro Electric Project (VPHEP) have resumed, with nearly 125 meters of tunnel mining completed, and HRT construction by TBM is set to begin on 31st October 2023. These milestones reflect our commitment to project efficiency and sustainable energy solutions, contributing to India's energy security.Read Also : IOCL ranks top Indian Corporate in Bloomberg NEF Global Rankings 2023
Our financial performance remains robust, with gross sales for the year 2022-23 amounting to Rs. 1,974.30 Cr, accompanied by a net profit of Rs. 670.57 Cr, reflecting our financial stability and growth trajectory.
THDCIL has also done significant collaborations during the year 2022-23. We established a joint venture (JV) company, TREDCO Rajasthan Ltd., in partnership with Rajasthan Renewable Energy Corporation Ltd (RRECL), to develop 10,000 MW Ultra Mega Renewable Energy Power Parks in Rajasthan. We also signed MoUs for hydro power projects in Kerala and Uttarakhand. Our commitment to corporate governance is unwavering, as demonstrated by our consistent "Excellent" rating for compliance with 'DPE Guidelines on Corporate Governance.'
Investor confidence in THDCIL remains strong. We successfully raised Rs. 763 crore through the issuance of Unsecured Corporate Bonds Series - VIII, with a coupon rate of 7.76% per annum. The issue was oversubscribed nine times the base issue size, a clear indication of investor trust in the company.
We recognize the importance of corporate social responsibility (CSR) and have strategically collaborated with government departments and agencies to secure additional funding for critical initiatives.
Looking forward, THDCIL has ambitious plans to increase its installed capacity to 4,351 MW by 2026. This includes the commissioning of projects such as Tehri PSP, VPHEP, and Khurja STPP. We are committed to exploring innovative technologies to support India's net-zero greenhouse gas emissions target by 2070.
With the acquisition of a Power Trading License, THDCIL is venturing into power trading within India.
Our corporate ethos prioritizes environmental, social, and governance practices, contributing to the creation of an ecologically sensitive and empowered society through purposeful CSR engagements.
CMD, THDCIL extended heartfelt gratitude to all our stakeholders, business partners, government agencies, and dedicated team of THDCIL for their invaluable support in making THDCIL a pioneering force in the power sector.Read Also : THDC lowers Main Inlet Valve of Second Unit in1000 MW Tehri Pumped Storage Project
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