Damodar Valley Corporation has increased its capital spending target for the 2023–24 fiscal year to Rs 2,800 crore, a 36% increase over the previous year, in order to support growth plans. With a nearly 6.5% year-over-year increase to 43.32 billion units in 2022–23, the company, which is jointly owned by the governments of the Centre, West Bengal, and Jharkhand, generated the "highest" amount of power in its 75-year history.
The official reported that it made Rs 24,522 crore in sales during the year. "Capex (capital expenditure) for the fiscal year 2022–2023 was 102% of the planned amount of Rs 2,055 crore. The capex goal for the current fiscal year is Rs 2,800 crore. The money will be used for mining, renewable energy, and fresh orders for growth, according to DVC Chairman Ram Naresh Singh. With an aim of raising its generation capacity to 15,000–16,000 MW by 2030, DVC has ambitious development ambitions, he added. The company wants to add a total of 9,654 MW of capacity to its current 6,700 MW from all sources. DVC
member (finance) Arup Sarkar estimated that it will cost roughly Rs 60,000 crore to implement these projects in their entirety.
A 2,500 MW pump storage plant, 3,720 MW of thermal power, and 3,434 MW of solar electricity are all part of the expansion plan. The company declared its commitment to making sure the electricity distribution system is not just dependable but also sustainable, with a focus on lowering carbon emissions and fulfilling regulatory requirements. As a result, the new projects are focused on sustainability. Out of a total of 9,654 MW, roughly 5,900 MW of the additional capacity comes from solar and pump storage, according to Singh. He added that the company is concentrating on battery storage and environmentally friendly hydrogen projects in Bokaro.
Singh, a 100 MW storage battery would cost about Rs 1,000 crore while the investment for green hydrogen has been estimated at Rs 500–600 crore. In a joint venture with NTPC, DVC would also set up 310 MW of floating solar projects at Panchet and Tilaiya. In the JV, the corporation will own a 49% interest. Technical DVC member M Raghu Ram stated that the corporation is spending Rs 4,000 crore to equip 13 thermal power plants with flue gas desulfurization (FGD) and DeNOX systems in order to cut carbon emissions and meet regulatory requirements. "The new thermal projects will be critical and super-critical plants of 660 MW and 800 MW for better efficiency," Ram stated.
Singh added that DVC, which has a six million tonne annual production capacity, has started producing coal from its Tubed coal block in Jharkhand. DVC would import 5 lakh tonnes of coal by September in order to ensure power supply throughout the busiest summer months. To make up for production limitations at home, the government has approved a blend of up to 6% imported coal. DVC has enlisted E&Y to assess its plans for Giridhi's retail electricity distribution.
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