Reliance Power is also planning to set up gas-based projects in full steam and has plans to add 10,000 MW capacity in the future.
With this, the company's total generation capacity from all sources of energy would touch 35,000 MW by 2017.
"Reliance Power will have operational capacity of 5,000 MW by 2012 and commission another 20,000 MW over the next three years (by 2015)," ADA Group Chairman Anil Ambani said, addressing the company's Annual General Meeting here.
The cost of generating one megawatt of electricity from coal is about Rs 4 crore and for hydro is about Rs 6 crore, taking the total investment needed to Rs 1,20,000 crore.
The company has already raised funds to the tune of Rs 50,000 crore for financing its expansion plans.
The company operates two units (2x300 MW) of Rosa thermal power project (1,200 MW) at Shajanpur in Uttar Pradesh.
"Post Supreme Court judgement the development of 10,000 MW of gas-based generation has commenced," Ambani said.
Construction of the 2,400 MW gas-based plant at Samalkot, Andhra Pradesh, has started and the project outlay is to the tune of Rs 10,000 crore.
Reliance Power has over 2 billion tonnes of domestic coal reserves that can support power generation to the tune of 20,000 MW capacity, Ambani said.
Three coal mines acquired by the company in Indonesia would support up to 10,000 MW electricity generation capacity.
In totality, the captive coal reserves in India and Indonesia are sufficient to support 30,000 MW of coal capacity for 25 years.
Reliance Power CEO J P Chalasani said that the company's ultra mega power projects of 4,000 MW capacity each at Sasan (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh) are on track.