India Power strives to become preferred partner for state governments
Bhubaneswar: India Power Corporation Limited (“India Power”), one of the leading power utilities in the country, strives to become the preferred partner for state governments across India in supplying electricity to domestic and industrial consumers at affordable rates. Emboldened by the success of supporting governments in West Bengal, Gujarat, Karnataka and Madhya Pradesh, the company now plans to expand its operations to other parts of the country, subject to necessary clearances and approvals.
India Power has been supplying power over 618 square kilometres in West Bengal’s Asansol-Ranigunj region for more than a century and has a 2 MW solar plant in Asansol in association with the West Bengal Green Energy Development Corporation Limited. The plant is the first grid connected solar plant in Asia. The company’s renewable portfolio also includes 35.2 MW of wind power generation assets in Gujarat and Karnataka, where it has been supplying power to the state electricity distribution companies (“discoms”).
India Power’s wholly-owned subsidiary, MP Smart Grid Private Limited, has been engaged in executing a first-of-its-kind public private partnership (“PPP”) that involves installation of 350,000 smart meters across five towns – Ujjain, Ratlam, Dewas, Khargone and Mhow – in Madhya Pradesh. In addition to the end-to-end deployment of smart meters at the consumer premises, the project also requires setting up of sophisticated technology infrastructure with an operation and maintenance mandate for a period of five years.
Commenting on the company’s focus to become the preferred partner for state governments, Mr. Raghav Raj Kanoria, Managing Director, India Power, said: “Our century-old legacy makes us confident in our ability to offer best-in-class services to consumers across the states of India. We have been able to ensure 24×7 reliable and affordable power supply to consumers in the states where we operate. Buoyed by this experience and the success stories, we plan to enter new geographies in the near future, subject to necessary approvals.”
India Power has recently formed a consortium with EDF International, which has submitted bids to acquire power distribution utilities in Odisha. The consortium members bring unique strength with a combination of unparalleled technical capabilities, financial strength and several decades of experience in both domestic and global environment.
Mr. Somesh Dasgupta, Whole-time Director, India Power, said: “We believe that the consortium is well placed to meet expectations of all the stakeholders in Odisha. While India Power will bring in the local knowledge and domain expertise of more than a century, EDF International will offer cutting-edge technological capabilities and global best practices.”