GMR Energy has chalked out an investment plan of around Rs 18,000 crore in the next three years.

Currently, the company is operating three plants in India, 380 MW unit at Vemagiri in Andhra Pradesh, another 200 MW project in Chennai in Tamil Nadu, and a 235 MW plant in Mangalore in Karnataka.

GMR Energy's projects in the pipeline include 1,050 MW plant at Kamalanga in Orissa, 800 MW expansion at the company's running Vemagiri plant in Andhra Pradesh and a 600 MW power project for its subsidiary Emco Energy in Warora, Maharashtra. These three projects are scheduled to be completed during 2012. It is also setting up a 1,200 MW power plant at Raikheda village, Raipur district of Chhattisgarh, which is likely to generate power in early 2013.

The investment in the Orissa project entails Rs 4,540 crore, Vemagiri project Rs 2,800 crore, Warora project Rs 3,360 crore and for Chhattisgarh project Rs 5,500 crore.

These projects are to be funded at a debt and equity ratio of 75:25. For the equity portion, it has internal accruals and short-term loans. The company is in talks with various banks, including State Bank of India, Axis Bank, SBI Caps and others to finance these projects.

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