The Reliance group-owned Reliance Power is planning to raise debt to the tune of Rs 20,000 crore to fund its various power projects. The company has already raised similar amounts from banks and financial institutions to meet its cash needs.

RPL chairman, Anil Ambani, addressing the shareholders at the 15th annual general meeting, said: "In all, we raised over Rs 20,000 crore of debt for various generation projects. We are on course to close a similar amount this financial year, having made significant progress in getting appraisals and sanctions for our Krisnapatnam Ultra Mega Power Project (UMPP) in Andhra Pradesh."

The company has already received bids for various power projects, including the 4,000-mw Sasan (MP) UMPP, 600-mw Rosa phase II and 300-mw Butiburi project. It hopes to get 3,000 MW power-generation capacities by commissioning the power project by 2012.

Mr. Ambani added: "We now have a multi-fuel project portfolio of over 33,000 mw, comprising 19,000 mw of coal, 10,000 mw of gas and 4,000 mw of hydro-based capacity." The company has coal reserves of around 2 billion tonnes that will be used to generate electricity from the upcoming power projects.