Nuclear Power Corp. of India Ltd., the country's only nuclear power generator, plans to produce 20,000 megawatts of electricity by 2020, and increase generating capacity by 10,000 MW in the immediate future, a senior company official said Monday.
Nuclear Power Corp. of India Ltd., the country's only nuclear power generator, plans to produce 20,000 megawatts of electricity by 2020, and increase generating capacity by 10,000 MW in the immediate future, a senior company official said Monday.

NPCIL has raised 28.5 billion rupees ($609.8 million) in the domestic market for immediate project needs, of which INR15 billion was through term loans from banks and INR13.5 billion was from the sale of bonds, the company said in a statement.

These funds will meet the requirements of Rajasthan Atomic Power Projects 5 and 6, and Kaiga Atomic Power Projects 3 and 4, NPCIL said.

Trust Capital, ICICI Securities P D, ICICI Bank, Axis Bank and Darashaw were the lead managers for the recently concluded bond issue, the company said.

By 2020 the company's uranium requirement will also climb to 8,000 metric tons a year, from the current 800 tons a year, Finance Director Jagdeep Ghai told reporters.

The company currently has a cash surplus of INR120 billion, and expects cash inflows of INR10 billion to INR20 billion a year, Ghai said at a press conference.

He said cash surplus will increase by about INR25 to INR30 billion a year after completion of the Kudankulam Nuclear power project. He didn't specify when the project will complete.

Kudankulam, in the southern state of Tamil Nadu, will have a power generation capacity of 2000 MW and is being built in technical collaboration with Russia .

India , among the fastest growing economies in the world, is looking to expand overall electricity generation capacity to bridge peak-hour shortage, which is likely to widen to 12.6% this fiscal year ending March 31 from 11.9% a year earlier.

The country currently produces 2.68%, or 4,120 MW, of its total power needs through nuclear energy.

Ghai said NPCIL was also looking at renewables like wind and solar energy in a big way, and cited plans to add 50 MW of wind energy in Kudankulam.

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