New Delhi : Water scarcity has already cost coal fired companies nearly 7 billion units in lost electricity generation, with an estimated revenue loss of Rs 2,400 crore in the first five months of 2016 alone, according to an analysis by Greenpeace India. A lack of cooling water for coal-based power plants in Karnataka, Maharashtra and West Bengal led to repeated shut downs and cut electricity generation. Not only do the shutdowns raise the spectre of another power shock like in the summer of 2012, but also to large financial losses.
Greenpeace claim the findings have been independently reviewed by equity analysts at the research firm Equitorials. Greenpeace estimates that power plants like the National Thermal Power Corporation at Farraka, Adani Power at Tiroda, GMR at Warora, Mahagenco at Parli and the Karnataka Power Corporation at Raichur have been the worst affected, losing about Rs 2,400 crore in revenues due to the shut downs.
Investment advisory firm Equitorials, which reviewed Greenpeace’s analysis says the environmental group has been conservative in its estimation of the losses by assuming that the power companies charge a tariff of Rs 3.5 per kilowatt per hour.