CLP India renamed Apraava Energy

29 Oct 2021 CW Team

Apraava Energy, formerly CLP India, aims to double its energy portfolio in the next three to four years by investing close to the same amount it has been investing since 2002.

CLP India is a joint venture between Hong Kong-based China Light and Power (CLP) Group and Caisse de dépôt et placement du Québec, a Canadian pension fund (CDPQ).

Last year, amid border tensions between India and China, the company's ownership came under scrutiny, prompting the government to require prior approval for foreign direct investment (FDI) from countries that share a land border with India.

CLP India has received all necessary government approvals, and the rebranding was planned for several years and was not prompted by geopolitical developments, according to managing director Rajiv Ranjan Mishra.

Revenue growth, sustainability, and broadening the shareholder base by inducting Indian shareholders, possibly through an initial public offering, are three themes that have driven the rebranding, according to Mishra.

Apraava Energy, which was one of the first entrants into India's power sector in its previous incarnation, plans to double its energy portfolio in the next three to four years from its current installed capacity of 3,150 MW, expand its power transmission capacity, and enter the power distribution business. So far, it has invested Rs 18,000 crore.

A local listing is also important to the company.

Apraava Energy is also working on a measurable, science-based emissions reduction goal, and has committed to affecting two million lives through community investments by 2025.

In 2002, CLP entered the Indian market with the purchase of a 655 MW Combined-Cycle Power Plant (PCCPP) in Paguthan, Gujarat, near Bharuch. For operational excellence and safety, the plant has set several industry benchmarks. In addition, the company operates a supercritical coal-fired power plant in Jhajjar, Haryana, with a capacity of 1,320 MW. It is one of India's first power plants to put in place a Flue Gas Desulphurisation (FGD) unit, which reduces sulfur dioxide emissions by 85%.

CLP India is one of the country's largest wind power developers, with over 900 MW of wind projects under development. With projects in the states of Telangana and Maharashtra, CLP India has a solar power generation portfolio of nearly 250 MW. The Veltoor Solar Power Project in Telangana prevents the emission of over 126,000 tonnes of carbon dioxide.

Image Source

Apraava Energy, formerly CLP India, aims to double its energy portfolio in the next three to four years by investing close to the same amount it has been investing since 2002. CLP India is a joint venture between Hong Kong-based China Light and Power (CLP) Group and Caisse de dépôt et placement du Québec, a Canadian pension fund (CDPQ). Last year, amid border tensions between India and China, the company's ownership came under scrutiny, prompting the government to require prior approval for foreign direct investment (FDI) from countries that share a land border with India. CLP India has received all necessary government approvals, and the rebranding was planned for several years and was not prompted by geopolitical developments, according to managing director Rajiv Ranjan Mishra. Revenue growth, sustainability, and broadening the shareholder base by inducting Indian shareholders, possibly through an initial public offering, are three themes that have driven the rebranding, according to Mishra. Apraava Energy, which was one of the first entrants into India's power sector in its previous incarnation, plans to double its energy portfolio in the next three to four years from its current installed capacity of 3,150 MW, expand its power transmission capacity, and enter the power distribution business. So far, it has invested Rs 18,000 crore. A local listing is also important to the company. Apraava Energy is also working on a measurable, science-based emissions reduction goal, and has committed to affecting two million lives through community investments by 2025. In 2002, CLP entered the Indian market with the purchase of a 655 MW Combined-Cycle Power Plant (PCCPP) in Paguthan, Gujarat, near Bharuch. For operational excellence and safety, the plant has set several industry benchmarks. In addition, the company operates a supercritical coal-fired power plant in Jhajjar, Haryana, with a capacity of 1,320 MW. It is one of India's first power plants to put in place a Flue Gas Desulphurisation (FGD) unit, which reduces sulfur dioxide emissions by 85%. CLP India is one of the country's largest wind power developers, with over 900 MW of wind projects under development. With projects in the states of Telangana and Maharashtra, CLP India has a solar power generation portfolio of nearly 250 MW. The Veltoor Solar Power Project in Telangana prevents the emission of over 126,000 tonnes of carbon dioxide. Image Source