Wednesday February 26, 2020
Home India CESC to inves...

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.



Next Story

Kolkata’s peak power demand for Durga Puja to rise marginally


Kolkata: Thanks to LED bulbs, in wider use for their low power usage, the peak demand of electricity during the upcoming Durga Puja festivities here will see an increase of only 50 MW in comparison to 186 MW last year, it was officially estimated.

While the peak demand for power during the Durga Puja days last year rose by 11.17 percent in comparison to 2013, this year’s peak demand is estimated to rise by only 2.7 percent in comparison to 2014.

“This is because of the increased usage of LED bulbs,” Sanjiv Goenka, the chairman of RP-Sanjiv Goenka Group-owned CESC, told mediapersons on Thursday.

CESC is the sole electricity supplier here.

The peak demand of power in the city’s festive days stood at 1,664 MW in 2013, which climbed to 1,850 MW last year. However, this year, the estimated peak demand is 1,900 MW.

He said the percentage increase in peak demand for power has come down despite an increase in temporary power connections to 3,780 puja pandals. Last year, the company had provided similar connections to 3,715 such makeshift pandals.

Nevertheless, the power demand from the top ten puja pandals has increased this year.

According to estimates of the RP-Sanjiv Goenka group company, against a total consumption of 1,306 KW last year, this year, the city’s top ten puja committees are estimated to consume 1,626 KW.

“The total power demand from puja pandals this year is estimated at 41.8 lakh units as compared to 41.4 lakh units last year, Goenka said.

Like other years, the company will also be conducting drives across the puja pandals to check for pilferage and unauthorised connections.

Goenka said CESC is fully geared to meet the city’s power demand during the festive days.




Next Story