Reliance Energy to set up power plants in M'rashtra

Reliance Energy has signed a pact with Maharashtra to set up two power plants with a combined capacity of 295 MW.

Reliance Energy Ltd. has signed a preliminary agreement with Maharashtra Government to set up two captive power plants with a combined capacity of 295 megawatts, the company said on Wednesday.

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The company proposes to set up a 165-MW, gas-based plant in the Thane-Belapur industrial belt outside Mumbai, and another 130-MW, coal-based plant in the Vidarbha region in Maharashtra.

Maharashtra has had heavy load shedding of power because of a peak hour shortage of 4,000 MW.

Reliance Energy currently operates five projects across the country with combined generation capacity of 941 MW. It also distributes electricity in Mumbai and New Delhi.

Shares in the company were up 1.9 per cent to Rs 650 in a firm Mumbai market.