"It will be for the first time in country that a 5 MW solar power plant shall be set up on the reclaimed land of mined out pits. The project would serve as a mile stone for mining industry of the country to replicate," GMDC Managing Director V S Gadhavi said.
Tapping the opportunities in non convention energy sector, GMDC has set up a 100 MW wind power project during the period under review.
"We have set up a 100 MW wind power project and during the quarter ended June 30, 2011 the power generated from it was 58 million units (MUs), thereby generating a revenue of Rs 20 crore," Gadhavi said.
"On the power front, our lignite fed power plant produced 346 MU’s for the quarter under review," he said. The state PSU reported a rise of 46 per cent in its net profit for the quarter ended June 30, 2011 at Rs 153 crore.
The company had posted a profit of Rs 104.74 crore in the corresponding quarter a year ago. The company posted a rise of over 36 per cent in its turnover for the quarter under review at Rs 467 crore, as compared to Rs 341.85 crore in the corresponding period a year ago, a company official said.