Hyderabad-based Nava Bharat Ventures has begun merchant electricity sales from its newly-revived power plant in Odisha.
In a stock exchange communication, Nava Bharat Ventures said that it has synchronized to grid its 60-mw power plant and has commenced power flows for merchant trade. The communication further says that the company has also completed registration of the 60-mw power plant with Indian Energy Exchange (IEX).
It may be mentioned that the 60-mw power plant had remained idle for several years. The breakthrough came about in April this year when Nava Bharat Ventures informed stock exchanges that the company, in engagement with the local power utility in Odisha, was able to resolve the long-pending metering and connectivity issue related to the 60-mw power plant. This, in turn, came about after the legal case before the High Court reached final settlement.
The 60-mw power plant (one unit of 60 mw) represents the “IPP” portion of the power plant with 150 mw installed capacity, located at Kharagprasad in Odisha. The remaining 90 mw (one unit of 60 mw and one of 30 mw) is used for captive consumption in the company’s ferro alloy business.
Also read: IEX Launches Cross-Border Electricity Trade Segment
Telangana plant
Even the 150-mw Telangana power plant, owned by Nava Bharat Energy India Ltd, a wholly-owned subsidiary of Nava Bharat Ventures, resumed power generation in April 2021. The plant, located at Paloncha, remained shut down in FY21. The resumption comes in the wake of improved merchant power market. The plant is now selling electricity on energy exchanges.
Zambia operations
Nava Bharat Ventures operates a 300-mw coal-based power plant, with mining facilities, in Zambia. This is understood to be the only integrated coal-based power plant in Zambia, an East African country that relies heavily on hydropower.
(Featured photograph for representation only)
