Reliance Infrastructure
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| Type | Public (BSE: REL) |
|---|---|
| Founded | 2002 |
| Headquarters | Mumbai, India |
| Key people | Anil Ambani, Chairman and Managing Director |
| Industry | Electricity Generation and Distribution |
| Revenue | ▲$1 billion USD (2005) |
| Website | Reliance Energy |
Reliance Infrastructure, formerly known as Reliance Energy and prior to that as Bombay Suburban Electric Supply (BSES), is a company under the Reliance Anil Dhirubhai Ambani Group [1] banner, one of India's largest conglomerates. The company is headed by Anil Ambani. The company's corporate headquarters is situated in Sector 24, Noida. The company is the sole distributor of electricity to consumers in the suburbs of Mumbai. It also runs power generation, transmission and distribution businesses in other parts of Maharashtra, Goa and Andhra Pradesh. Reliance Energy plans to increase its power generation capacity by adding 16,000 MW with investments of $13 billion.
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[edit] History
Reliance Energy came into existence when it took over BSES in 2002.
[edit] Dadri & Sasan projects
Reliance Energy is currently constructing a 5500 MW gas generation power plant in the district of Dadri in the northern state of Uttar Pradesh. It is planned to be the single largest gas grassroot gas fired generation plant in the world and will solve much of the power supply shortages of northern India. The ADAG group is in a bitter fight with Mukesh Ambani controlled Reliance Industries as the Gas for this project is not yet tied up. The matter was under litigation in the Bombay high court. On June 15, 2009 the Mumbai High court ruled the case in favour of the Reliance Natural Gas Limited. asking the Mukesh Ambani owned Reliance Industries to stick to its commitment of providing the gas to RNRL at a stipulated amount being agreed upon prior to the split between the brothers.
The Sasan project (Madhya Pradesh) is a 6 * 660 MW coal fired generator currently under construction. The tender had initially been awarded to Lanco Group, before being disqualified.
[edit] Other projects
Reliance Energy won on competitive bidding last year for 280 MW Urthing Sobla hydro power project in Uttarakhand. It has also won two power projects totaling 1700 MW in Arunachal Pradesh.
Recently Reliance energy has bagged a 1200 MW Hissar and a 2×250 MW Pariccha EPC project contract. It is also building the 1200 MW Rosa Power Plant.
[edit] Relationship with Tata Power
Tata Power is the India's oldest private power section company and considered Reliance Energy's biggest rival. However Tata Power and REL have an unusual business relationship in that Tata Power is a net generator of power and sells power to REL while REL has insufficient generation capacity to supply its Mumbai retail customers and thus must buy the shortfall from Tata Power. Tata Power and REL both compete directly against each other in the high end use industrial customer market. This has resulted in several contract disputes between the two rivals.
[edit] Reliance Power
As at 15-Jan-08 Reliance Energy is in the process of structuring an IPO for its subsidiary Reliance Power. Reliance Energy will issue new shares in Reliance Power equal to 80% while holding the remaining 20%. The IPO is expected to raise US$3.5 billion, which would make Reliance Power the largest IPO in India's history. The capital raising is to fund the new generation projects currently planned.
[edit] See also
[edit] External links
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