He further said the company will grow its clean energy portfolio with solar, wind, bio-mass, bio-gas and waste-to- energy in the renewable energy space.
"This initiative is to meet the twin objectives of development of sustainable, cleaner and greener power generation portfolio and capital-light assets with shorter development cycle and quicker generation of reverse cash flows," he said.
Speaking about the company's plan to convert stranded gas-based asset at Samalkot into an opportunity in Bangladesh, Ambani said, "we have signed the PPA and gas supply agreements for the 750 MW gas-based generation plant in Bangladesh with a capital outlay of over Rs 5,000 crore. We have also brought in a joint venture partner JERA, the largest power utility in Japan."
He further said that this is the single largest FDI into Bangladesh enhancing the energy security of the country and taking Indo-Bangladesh relationship to the next level of economic cooperation.
"Building on the momentum of phase I development, our focus now is on the development of phase II of 1500 MW in line with the MoU signed for development of 3000 MW gas-based projects. With these developments, we will be able to completely retire the US EXIM debt of about Rs 2,400 crore," the chairman said.
RPower has an operating capacity of 6000 MW operating at a plant load factor of 80 per cent.
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