NTPC - SELL NTPC Dadri Plant Visit
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Transcript of NTPC - SELL NTPC Dadri Plant Visit
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8/14/2019 NTPC - SELL NTPC Dadri Plant Visit
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Dadri coal plant has the highest PLFs among all of NTPCs units
The coal unit receives coal from North Karanpura mines located inJharkhand, almost 1,400km from Dadri. The coal (grade E, calorificvalue ~4,324-5,089 Kcal/kg) is fed through a rail link. NTPC has adedicated railway siding that connects Dadri station and the plant.Gas for the plant is supplied by GAIL and is sourced through the HBJpipeline.
The plant consumes 4.7m tonnes of coal annually, and requires4.0mmsmd gas. However, owing to the shortage of gas in India,
actual supplies are only 2.5-2.6mmsmcd. Hence, although the coalplants PLF has been well over 90% since FY05, the gas stations PLFhas been much lower, at ~74% for the same period.
Figure 3: Coal-based units have recorded higher PLFs than gas-based units, thanksto firm fuel linkages
92.8% 92.0%95.7%
96.1%
75.1% 74.2%
77.0%
72.0%
60%
65%
70%
75%
80%
85%
90%
95%
100%
FY05 FY06 FY07 FY08
Coal based units Gas based units
Source: IIFL Research
Environment-friendly unit
The plant operates the countrys largest fly-ash disposal facility, with53m m3 storage capacity.
Additionally, Ambuja and Grasim have announced plans to set upcement units near the plant, to use the fly-ash generated from theplant. As an incentive, NTPC will supply fly-ash to these plants freeof cost for the first few months.
The thermal station currently produces 1.5m tonnes of fly-ash daily
and some of this is sold in auctions by NTPCs subsidiary NTPCVidyut Vyapar Nigam. This generates an additional ~Rs350m incomefor NTPC annually.
The unsold ash has been used to create a flourishing nature parkaround the plant. The 550-acre ash mound acts as an ecosystem forboth flora and fauna.
Figure 4: Ash utilisation to develop a nature park in the power plant complex
Source: IIFL Research
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Brownfield expansion: on track for completion ahead of schedule
The brownfield expansion is on track to be completed before thestandard 48 months usually needed to set up a new capacity.
Figure 5: Construction for Stage II expansion in full swing
Source: IIFL Research
BHEL is looking to complete the plant in record time.
Figure 6: BHEL is going for a record at Dadri
Source: IIFL Research
Other observations
Employee morale at Dadri plant running high
Employees seem highly motivated. Key reasons could be:
Lower salary differential: Implementation of Sixth PayCommission recommendations has reduced salary gap betweenprivate and public sector companies.
Access to amenities: Dadri campus provides all its employeesaccess to amenities such as school, hospital, recreation/
entertainment centres and accommodations. Few private-sectorpower generation companies employees enjoy such facilities.
However, churn is evident at the corporate level, where suchamenities are not provided and the operating structure is morebureaucratic.
Dadri is a benchmark for the best operation practices
Dadri has adopted the best practices for safety, environmentprotection and maintenance. This is evident from its ISO 9001-2000,ISO 14001 and OSAS 18001 certifications.
Additionally, to improve infrastructure around the plant, thecompany is laying a cement access road. 35% of material usedwould be fly-ash generated by the plant. The Rs250m-300mexpenditure incurred would be capitalised by NTPC.
As a part of supply-chain management, the station also assists coalsmines in their operations and maintenance.
Dadri can add a further 500MW capacity through brownfieldexpansion
The existing campus has enough land available to allow an additionalbrownfield expansion by 500MW. Even for the Stage II expansion,only 200 acres additional land for the reservoir was required.
We are going to createa record at Dadri
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Figure 7: Dadri station has 15 days coal inventory
Source: Google Maps, IIFL Research
Figure 8: NTPC Dadri
Coolingtowers
Dieselstorage
Coal
inventory
Existing coalunits
Gas units
4,500 MWswitchyard
Site forexpansion
Coolingtowers
Dieselstorage
Coal
inventory
Existing coalunits
Gas units
4,500 MWswitchyard
Site forexpansion
Source: Google Maps, IIFL Research
Harshavardhan Dole
(91 22) 6620 6660Avi Mehta
(91 22) 6620 6650
Coal Inventory
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