Performance of IPPs: Muted operating performance  Motilal Oswal

Performance of IPPs: Muted operating performance
 Adani Power (APL) generation for the month stood at 1.4BUs and average PLF
stood at 41% (down 44ppt YoY). APL plant PLF has been muted since the
commissioning of Mundra Ph-III (impacted by transmission constraints). We await
further clarification from the management on the same.
 JSW Energy's generation stood at 1.4BUs and is highest ever in a month. Generation
growth is led by higher PLF at its plant, where-in Karnataka/Ratanagiri plant
operated at PLF of 91% v/s 68% YoY and 85% QoQ. 540MW Rajwest operated at PLF
of 73% v/s 45% QoQ. JSWEL has synchronized U-V & VI in June-12 and is expected
to synchronize U-VII & VIII by 2QFY13.
 Tata Power: Mundra UMPP project (1600MW) generated 394MUs during August-
12 and operated at PLF of 33%, YTDFY13 Mundra UMPP has generated 1.9BUs and
plant operated at PLF of 46%.
 Jindal Power's 1GW Tanmar project generation stood at ~707MUs (up 7% YoY) and
PLF stood at 95% (up 6ppt YoY).
 Lanco Infratech thermal projects generated 1.0BUs (down 11% MoM) for Aug 2012.
Udupi project PLF stood at 31% (v/s 84% MoM), while Kondapalli PLF stood at 39%
(v/s 46% MoM). Amarkantak project PLF stood at 66% (v/s 90% MoM) and Anpara
PLF was 27% (v/s 22% MoM).
 Sterlite Energy 2.4GW Jharsuguda plant generation stood at 750MUs and PLF at
42% (v/s 43% MoM). Since the commissioning of plant, coal scarcity has impacted
PLF of the plant.
 Reliance Power: R Power 1.2GW Rosa project generated 649MUs and operated at
PLF of 73% (v/s 51% MoM).

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