CESC in talks for 150 MW power purchase agreement

Kolkata, July 22 (IANS) The RP-Sanjiv Goenka Group owned power utility company CESC Ltd on Friday said it was in talks with a private distribution company to sign a power purchase agreement (PPA) for 150 MW that will take the capacity utilisation of its plant in Chandrapura of Maharashtra to 450 MW.

"We are close to signing a deal for 150 MW with a private distribution company. We have so far tied up almost 300 MW and with this deal our total PPA will be for 450 MW out of 540 MW effective capacity," said group chairman Sanjiv Goenka.

While the project has now an accumulated loss of Rs 600 crore, Goenka said with the new PPA, it was expected to turn revenue positive in the next three months.

About its retail arm Spencer's, Goenka said it was expected to achieve Rs 2,200 crore in the current fiscal.

He also said the retail arm will soon be launching an app offering home delivery of 12,000 grocery items.

"The facility will initially be made available to customers in Kolkata and then will be extended to other cities," added Goenka.