Wednesday, January 20, 2021
Home India CESC to invest Rs.3,000 crore in renewable energy

CESC to invest Rs.3,000 crore in renewable energy

Image from Forbes
Image from Forbes

 

Kolkata: R.P.-Sanjiv Goenka Group-owned power utility CESC Ltd. has posted a net profit of Rs.152 crore for the quarter ended June 30, as compared to Rs.151 crore in the corresponding quarter a year ago.

The company’s total income declined to Rs.1,704 crore, as against Rs.1,863 crore a year-ago.

Talking about expansion plans, chairman Sanjiv Goenka said the company would be investing Rs. 3000-3,500 crore in the next 18 months.

“We have plans to invest Rs. 3000- 3500 crore in the next 18 months to expand our wind and solar power generation by 500 MW,” he told media persons after the company’s annual general meeting here.

Currently it has 50 mw of wind power capacities in Rajasthan and Gujarat and 25 MW solar capacities in Tamil Nadu and Gujarat.

“The work in the new projects, coming up at Rajasthan, Gujarat, Tamil Nadu and Madhya Pradesh will begin in next six months,” said Goenka.

The group’s multi-format food-first retail chain Spencer’s Retail’, which has made its first ever operating profit inAthe May, is expected to sustain profitability.

“We have made our first ever profit in May and confident of sustaining the profitability. Although, there is marginal decline in footfall, but the sales per square feet stood at Rs. 1,470 during April-June compared to Rs. 1,350 in the corresponding quarter a year ago,” said retail sector head Shaswat Goenka.

He said the company has a target of opening 12 hypermarkets, adding 275,000 square feet of trading area in the current fiscal.

Of the 12 new stores, three were opened in the in the first quarter in Andhra Pradesh and 3-4 are in the pipeline in the next few months, said Goenka.

(IANS)

 

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Armaan Malik on Factors Threatening Our Mental Health

Singer Armaan Malik has opened up on the factors that he feels are responsible for threatening our mental health. Armaan feels that we as a...

Thane Athlete Is First To Complete The Everesting Running Challenge

An athlete from Thane has become the first Indian woman to complete the grueling Everesting Running Challenge (ERC), while a man finished it fastest,...

Techniques To Predict COVID Outcomes

Researchers have published one of the first studies using a Machine Learning (ML) technique called "federated learning" to examine electronic health records to better...

Colorectal Cancer Can Be Prevented by Tests: Study

Researchers have demonstrated that a simple, cheap test can help identify who is at risk of developing colorectal cancer, aiding early diagnosis and potentially...

Space Junk: What is it and Who Owns it?

You may think that space is just a void - an unimaginably large, empty space stretching out forever. However, while that may be true...

What is The Difference Between Srimad Bhagavad Gita and Srimad Bhagavatam? Answered!

It becomes very essential to understand and become aware of our rich cultural heritage. This also includes the knowledge about our Hindu Vedic texts...

Here’s Why You Must Consider Switching From Facebook Messenger Soon!

As the debate rages over new WhatsApp data sharing policy, another Facebook family product called Messenger does not offer any end-to-end protection and is...

“Audience Does Not Pay Heed To The Roles I Like Personally”, Says Nawazuddin Siddiqui

Critically acclaimed actor Nawazuddin Siddiqui says he loves playing dry characters that do not go overboard with emotions, even though the audience rarely roots...

Recent Comments