SEIL Energy India Limited, wholly-owned by Tanweer Infrastructure SAOC, is open to evaluating well-performing assets going through IBC resolutions.
Janmejaya Mahapatra, Whole-time Director & CEO, SEIL Energy, talking about the company’s future plan told businessline that “We do not mind evaluating well-performing assets going through IBC resolutions, that offer clear operational synergies and has potential to strengthen returns without diluting our focus.”
“SEIL will not diversify for optics. For now, SEIL is focused on maintaining financial stability and operational excellence, our priority is to keep this 2640-megawatt plant in excellent condition, so that it runs at its peak not only for the 25 years of useful life, but for 40 years and up to 2056,” he said.
SEIL’s journey began in 2008 on the eastern coast of India, near Krishnapatnam Port in Nellore, Andhra Pradesh. Today, with about 95 per cent of its 2,640 MW supercritical capacity contracted, SEIL Energy supplies power to Andhra Pradesh (1,484 MW), Telangana (270 MW), Haryana (127 MW), Tamil Nadu (100 MW), and Bangladesh (450 MW).
Asked whether the challenges once faced with Bangladesh exports have been sorted, he said “The company is successfully exporting 450 MW of power to Bangladesh.”
On the domestic front issues faced with the Power Purchase Agreements, he said, “A stable PPAs is crucial for investor confidence. Long-term or medium-term PPAs gives comfort to the investors, especially in infrastructure projects like power plants, which are highly capital intensive.”
“Regulatory hassles or delayed payments can make investors wary, making them shy away from further investments. Implementation of Late Payment Surcharge (LPS) Rules and CERC, taking a stable role of guiding the state regulatory commissions in creating a very uniform jurisprudence, have given a lot of fillip to this sector,” he pointed out.
Talking about coal’s evolving role in India’s energy mix, he said, “The thermal power sector has moved from maintaining a constant base load to a flexible operation model that integrates renewable energy sources. This flexibility is crucial for adapting to the intermittency of renewables.”
“Its role has matured beyond base load supply to active ramping, flexibilization, and integration of intermittent renewables. Particularly, supercritical plants have a promising future, with stability for the next two decades, providing stability through at least 2047,” he added.