AES is the only global power company with a continuous presence in India since 1992 demonstrating its long term commitment to the Indian power market. AES was invited to Odisha, India, in 1992 to develop the Ib Valley thermal power plant soon after Government of India allowed private participation in the power sector. In 1998, AES participated in an international competitive bid process and was the successful bidder for 49% stake in Odisha Power Generation Corporation (OPGC) along with its management control.
In 1998, AES acquired 49% stake in Odisha Power Generation Corporation (OPGC) which owns and operates a 420 MW coal fired power plant. OPGC will undergo a 2 stage expansion of 2640 MW for which it has been allocated two captive coal blocks by the Government of India with aggregate resources of 531 million tonnes. It is currently in the 1st phase of expansion of 1320 MW.