Energy calculation and interpretation of a power plant

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dmssrinivas
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My friend asked me what does a 540 MW power plant mean and how to interpret,

I said it can lift a 1 Kilo Ton object to a height of 1 KM in about 3 Mins. My calculation is based on the equation of potential energy to the time taken by the power plant to produce that energy.

Is this the correct concept?
 
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