THDC India Limited Celebrates Remarkable Achievements in FY 2022-23 and Unveils Ambitious Roadmap for the Future

THDC India Limited Celebrates Remarkable Achievements in FY 2022-23 and Unveils Ambitious Roadmap for the Future in its 35th Annual General Meeting held on 25th Sept 2023 at New Delhi

Rishikesh, September 26, 2023: In a momentous event held in New Delhi, THDC India Limited (THDCIL) celebrated a year of exceptional success and outlined an ambitious roadmap for the future during its 35th Annual General Meeting on September 25, 2023.

Record Energy Generation

During the financial year 2022-23, THDCIL achieved a cumulative energy generation of 4,935.48 million units (MU), reaching its highest output level in the past nine financial years. Notably, the Tehri Hydro Power Plant (1000 MW) set a remarkable milestone by achieving a record daily generation of 25.80 MU on August 2, 2023, even after 17 years of continuous operation, demonstrating the plant’s resilient maintenance and operational strategies.

Financial Excellence

THDCIL’s commitment to excellence extended to its financial achievements, surpassing its capital expenditure (CAPEX) targets for FY 2022-23 by an impressive 43.9%. Capital expenditures reached Rs 4,615.02 Cr, significantly exceeding the target of Rs 3,207.54 Cr. Additionally, Tehri HPP and Koteshwar HEP exceeded Plant Availability Factors (PAFs) by achieving 84.09% and 68.62%, respectively, surpassing normative figures.

Upcoming Projects

Exciting progress was reported in upcoming projects, with the first unit of Tehri PSP (4×250 MW) successfully boxed up on March 30, 2023. The company is in the final stages of commissioning the first pumped storage plant in the central sector with a 1,000 MW capacity in Tehri, Uttarakhand. The first two units of Tehri Pumped Storage Plant (4×250 MW) are set to be commissioned in FY 2023-24, with the remaining two units to follow by June 2024.

Milestones and Efficiency

THDCIL has also achieved significant milestones in ongoing projects, including the successful Boiler Hydro Test of the first unit at Khurja Super Thermal Power Plant (STPP) on March 15, 2023, with plans for Boiler Light Up in November 2023. Furthermore, coal extraction at Amelia Coal Mine commenced six months ahead of schedule on February 18, 2023, and mining operations using the Tunnel Boring Machine (TBM) in the Vishnugad Pipalkoti Hydro Electric Project (VPHEP) have resumed.

Strong Financial Performance

THDCIL’s financial performance remains robust, with gross sales for the year 2022-23 amounting to Rs. 1,974.30 Cr, accompanied by a net profit of Rs. 670.57 Cr, reflecting the company’s financial stability and growth trajectory.

Collaborations and Investments

THDCIL established a joint venture (JV) company, TREDCO Rajasthan Ltd., in partnership with Rajasthan Renewable Energy Corporation Ltd (RRECL), to develop 10,000 MW Ultra Mega Renewable Energy Power Parks in Rajasthan. Additionally, the company signed MoUs for hydro power projects in Kerala and Uttarakhand.

Investor Trust and CSR

Investor confidence in THDCIL remains strong, with the successful issuance of Unsecured Corporate Bonds Series – VIII, raising Rs. 763 crore at a coupon rate of 7.76% per annum, oversubscribed nine times the base issue size.

The company is committed to corporate social responsibility (CSR) and has collaborated with government departments and agencies to secure additional funding for critical initiatives.

Ambitious Future

THDCIL has ambitious plans to increase its installed capacity to 4,351 MW by 2026, including the commissioning of projects such as Tehri PSP, VPHEP, and Khurja STPP. The company is committed to exploring innovative technologies to support India’s net-zero greenhouse gas emissions target by 2070.

Venturing into Power Trading

With the acquisition of a Power Trading License, THDCIL is venturing into power trading within India, aligning with its corporate ethos prioritizing environmental, social, and governance practices to contribute to the creation of an ecologically sensitive and empowered society through purposeful CSR engagements.

CMD, THDCIL, Shri R.K. Vishnoi, extended heartfelt gratitude to all stakeholders, business partners, government agencies, and the dedicated team of THDCIL for their invaluable support in making THDCIL a pioneering force in the power sector. The company’s achievements and ambitious plans stand as a testament to its commitment to India’s energy security and sustainable growth.